Friends, everyone wants to grow their money Double in short period of time. There are numerous investment tools available to get your money double. In this article, we are going to know, how much interest rate needed to grow your money in to double in a fixed time period. And we will also know how many years are needed for getting your money doubled at a particular interest rate. We will know it with both sides.
The Rule Of 72-
It is called the rule of 72. In this rule we divide 72 by the no. of years. And we get that particular interest rate. By this particular interest rate we can get our money doubled.
For example: If we want our money doubled in 6 years, we divide 72 by 6 and we get 12%. This is the particular interest rate by which we can double our money in 6 years.
If you want your money getting doubled in 4 years you should have your interest rate 18% per annum. Now you have to search for an investment scheme which could give you 18% annual return. You can get this return easily in any good mutual fund scheme.
If you want your money getting doubled in 4 years you should have your interest rate 18% per annum. Now you have to search for an investment scheme which could give you 18% annual return. You can get this return easily in any good mutual fund scheme.
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