1. RULE OF 72 tells you in how much time your lumpsum money will double.
2. Divide 72 by the annual rate of return (or the number of years), and you will know the number of years (or the annual rate of return) it will take to double in value.
3. If Rs.10,000 has got doubled in 8 years, it has grown 9% annually.
4. As a corollary, if Rs.10,000 is growing at 9% annually, it will get doubled in 8 years.
5. Just for additional info, RULES OF 114, 144 and 171 similarly tell you in how much time your lumpsum money will triple, quadruple and quintuple.
2. Divide 72 by the annual rate of return (or the number of years), and you will know the number of years (or the annual rate of return) it will take to double in value.
3. If Rs.10,000 has got doubled in 8 years, it has grown 9% annually.
4. As a corollary, if Rs.10,000 is growing at 9% annually, it will get doubled in 8 years.
5. Just for additional info, RULES OF 114, 144 and 171 similarly tell you in how much time your lumpsum money will triple, quadruple and quintuple.