If you know how long you invest in which scheme, your money will double, triple, or quadruple, then it will be very easy to make an investment decision. Here know those 3 formulas with the help of which you can easily know this.

Profit is on everyone's mind at the time of investment. Usually, we know how much interest is being received on which scheme. But if you know how long you invest in which scheme, your money will double, triple, or quadruple, then it will be very easy to make an investment decision. Here know those 3 formulas with the help of which you can easily find out in how many years your invested capital will double, triple, and quadruple.

Rule of 72

This formula is considered very important from the investment point of view. This formula tells how much time it will take for your money to double. Most experts consider it to be a fairly accurate formula for calculation. To apply this formula, you should know the annual interest you get on a scheme. After this, you have to divide that interest by 72. This tells you how much time it will take for your money to double.

Understand with an example.

Suppose you invest in a post office FD for 5 years. Currently, it is getting an interest of 7.5 percent. In such a situation, when you divide the current interest rate by 72, the answer will be 72/7.5= 9.6. In this way, according to the calculation, your money will double in 9 years and 6 months i.e. in about 10 years.

Rule of 114

If you want to know when your money will triple, then Rule of 114 will be useful for you. This formula is similar to Rule of 72 and is used in the same way for calculation. Let us take the example of post office FD here as well. To know in how much time your money will triple in post office FD, you will have to use the formula 114/7.5. After calculation, the answer will be 15.2 i.e. at the rate of 7.5 percent interest, your invested money will triple in 15 years and 2 months.

Rule of 144

Rule of 144 tells you in how much time your deposited amount in a scheme will quadruple. Suppose you are investing in a scheme in which you are getting interest at the rate of 6 percent, then 144/6 = 24 i.e. your amount will quadruple in 24 years. If we take the example of Post Office FD and calculate at 7.5% interest rate, then 144/7.5 = 19.2 i.e. at 7.5% interest rate, it will take 19 years and 2 months for your amount to quadruple.