This is very simple rule.
Simply divide 72 by the Annual Interest Rate and this is the time it will take you to double up your money.
For e.g.:- If you Invest 10,000 at 8% p.a., it will take you 9 years (72/8), to double up your money.
How many years FD will double?
than according to Rule 72 your invested money will be doubled in 72/8 = 9 years. This means if you invest Rs.1 lakh in Bank Fixed today than you will get Rs.2 lakhs if you stay invested for 9 years.
Can I double my money in 5 years?
This is the number of years it will take for your money to double. For example, if your money is earning an 8 percent interest rate, you’ll double your money in 9 years (72 divided by 8 equals 9). Or, if your money is earning a 5 percent interest rate, you’ll double it in 14.4 years (72 divided by 5 equals 14.4).
How many years money will double in post office?
Kisan Vikas Patra
KVP offers an interest rate of 7.7% compounded annually. It can be purchased from any post office. The invested amount doubles every 112 months (9 years and 4 months). Investment is available in denominations of Rs.1,000, Rs. 5,000, Rs.10,000 and Rs. 50,000.
Does money double every 7 years?
The Rule of 72 states that the amount of time required to double your money equals 72 divided by your rate of return. For example: If you invest money at a 10 percent return, you will double your money every 7.2 years. If you invest at a 7 percent return, you will double your money every 10.2 years.