When Will My Money Get Double? 100% Growth: Every time a new person enters in investing the first question which strikes in their mind is when my money will get double?
So to answer this question financial planners and financial advisors use this rule of 72. The Rule of 72 was discovered by Albert Einstein
So Today I am sharing this amazing formula ‘Rule Of 72’ with you. by using this formula you can calculate when you invested money will double
Where can you use this?
You can use this calculate Fix deposit FD, Post Office, Mutual Fund, equity Returns it works everywhere.
Rule of 72
To calculate the number of years in which your investment will double — it is known as the rule of 72 — simply divide 72 by the rate of return that you can generate.
So at 12 percent return, you can double your money in six years. No. of years = 72/12 = 6.
If you want To know the time required to triple the principal amount, the rule of 114 is used.
The amount of time needed to triple your money would be = 114/12 = 9.5 years.
Rule of 72: Number of years to double = 72/expected return.
Rule of 114: Number of years to triple = 114/expected return.
Rule of 144: Number of years to quadruple = 144/expected return.
100% Growth simply means: An increase of 100% in a quantity means that the final amount is 200% of the initial amount (100% of initial + 100% of increase = 200% of initial); in other words, the quantity has doubled.
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