RTT actually is a 2 way latency and actually depends upon scenario..One way latency is defined as :
Latency = Propogation delay + Transmission delay + Queuing Delay
Now based on the data size which we are considering , we can have different interpretation of R.T.T :
Case 1 :
If the message contains only one bit and we are talking about a single link (as opposed to a whole network), then the Transmit and Queue terms are not relevant, and latency corresponds to the propagation delay only.
So in that case R.T.T = 2 * Propogation delay
Case 2 :
Say we are not considering the queuing of packets,so queuing delay is ignored and hence our expression for R.T.T. reduces to :
R.T.T. = 2 * Propogation delay + Transmission Delaydata + Transmission Delayacknowledgement
Again acknowledgement size is negligible often , so we write :
R.T.T. = 2 * Propogation delay + Transmission Delaydata
Hope this helps..