This is the formula to double and triple the money, knowing this rule, you too can become rich!

New Delhi. Everyone wants to know before investing that by when his 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 (money making tips) and whenever you deposit money, it should be known that in how many days your money will increase.

Doubling money has been a decades-old fascination for investors in India. A few decades ago, when the interest rates were high, people’s money used to double in 5-6 years. At present also good interest is being received in many schemes. 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.

read this also: Invest here to get more returns in less time, getting bumper interest

In how many years money will double
What is Rule 72: There is a general rule of thumb for calculating when your savings will double. 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.

Example: Suppose you have invested in any scheme of SBI and here that investment is getting 7% interest annually. 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 you have invested in the scheme. If it is getting 8 percent annual interest rate, then 114 will have to be divided by 8. 114/8 = 14.25 years, that is, your money in this scheme will triple in 14.28 years.

In how many years will the money be four times
Rule 144: Rule 144 states that in how much time your money will become four times.

Example: If you invest at an interest rate of 8 per cent per annum, your money will quadruple in 18 years. 144/8 = 18 years.

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