Saturday, March 2nd, 2024

Apply this formula on your investment, you will know immediately when your money will double, in how many days 4 lakhs will become 8 lakhs


When will your savings double?
A common rule of its calculation is quite prevalent.
Let us know its formula.

New Delhi. Whenever you deposit money, you should know how much your money will increase in how many days. Everyone wants to know before investing that by when his/her money will double or triple. But due to lack of knowledge of some easy rules, people are not able to do this small work.

In such a situation, it is important that you note these rules. Today we are telling you some such easy rules, through which you can know that in how many years your investment can be doubled or tripled.

In how many years money will double
What is Rule 72: A common rule of calculating when your savings will double is quite popular. This is rule 72. It is widely used in finance. Through Rule 72, you can know in what time your investment money will double. Let us know its formula.

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Example: Suppose you have invested in any scheme of SBI and here you are getting interest of 7% per annum on that investment. In this case, you have to divide 72 by 7 under Rule 72. 72/7 = 10.28 years, that is, in this scheme your money will double in 10.28 years.

In how many years money will triple
Rule 114: You can know through Rule 114 that in how many years your money can triple. For this, you have to divide 114 by the interest rate.

Example: If the scheme in which you have invested. It is getting 8 percent annual interest rate, then 114 will have to be divided by 8. 114/8 = 14.25 years, which means your money will triple in 14.28 years in this scheme.

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In how many years money will be four times
Rule 144: Rule 144 tells that in what time your money will be quadrupled.

Example: If you have invested at an annual interest rate of 8 percent, then in 18 years your money will quadruple. 144/8 = 18 years.

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