Investment Tips: If you want to double or triple one lakh quickly then this scheme is the best, know-how!

pc:tv9hindi

Everyone wants to invest their money in some scheme and their money gets doubled or tripled as soon as possible. Some people even wish to triple their investment. For this, people look for different investment options and many people choose Fixed Deposit (FD) to avoid any complications. However, while investing there is always a question of how long it will take for the money to double or triple. Today we will share a trick with you. You can calculate this before investing in any scheme.

Here's the trick to doubling your money:

To calculate how long it will take for your money to double, a formula is applied called the "Rule of 72". It instantly estimates when your invested money will double. This technique is based on mathematical estimates. According to this rule, dividing the interest rate by 72 represents the time in which the investment money can double. This can be generally applied to established investment options, such as fixed deposits (FD). If we have an interest rate of 8 per cent on an investment, we know that it will take 72/8 = 9 years for our money to double. So, if we invest Rs 1 lakh it will take approximately 9 years for it to double. For example, if you are getting an 8% interest rate on FD, it will take about 9 years for your investment to double. So, if you invest Rs 1 lakh, it will double in 9 years at 8%.

pc: Zee Business

This trick works when money triples:

If you want to know how much time will it take for your money to triple, i.e. to convert one lakh into three lakhs, then you have to apply another formula which is called "Rule of 114". Is. The application is similar to Rule 72. In this, you divide 114 by the interest rate. For example, if you are getting an 8% interest rate, then applying the formula 114/8 = 14.25 4.25 i.e. it will take around 14 years 2 months for the money to triple.