When an investor invests his money in a project, these two things are high on his mind. That’s security and how much money doubles in a matter of days. With Formula 72, you will be able to easily figure out how many days your money will double.
Tell us how we use this formula. If you want to know how many days your public futures fund will double. So you should be able to find it easily with this formula. PPF is getting a 7.1 per cent interest rate. This interest rate is revised every three months by the government. If you are getting 7.1 per cent interest rate. If we divide 7.1 by 72, that’s 10.14 years. It is time to double your money.
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National Savings Certificate: Let us understand about other projects as well. The National Savings Certificate is receiving an interest rate of 6.8 per cent. In such a situation, if you invest here, your money will double in 10.58 years.
Senior Citizens Savings Plan: The Senior Savings Certificate is currently receiving an interest rate of 7.4 per cent. In such a situation, if someone invests here, their money will double in 9.72 years.
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This clearly shows that when interest rates are high, money will double in the short run. In such a situation, where there is a high interest rate, investing is worthwhile. But where high interest rates are, let’s not forget that the risk is high.
