To multiply by 2 to the power of N (i.e. 2^N) shift the bits N times to the left
0000 0001 = 1
times 4 = (2^2 => N = 2) = 2 bit shift : 0000 0100 = 4
times 8 = (2^3 -> N = 3) = 3 bit shift : 0010 0000 = 32
etc..
To divide shift the bits to the right.
The bits are whole 1 or 0 - you can't shift by a part of a bit thus if the number you're multiplying by is does not factor a whole value of N
ie.
17 = 16 + 1 = 2^4 + 1
this to multiply by 17 you have to do a 4 bit shit to the left, and then add the original number again:
a = 0000 0011 = 2
times 16 = (2^4 => N = 2) = 4 bit shift : 0001 1000 = 24
+ the number (0000 0001)
ie.
0001 1000 (48)
+ 0000 0011 (3)
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0001 1111 (51)