Investment: When will your invested money double, triple, or quadruple? This formula will tell you in a jiffy..

There are numerous investment options these days. Most people invest based on interest rates to maximize profits. However, knowing how many years it will take for your money to double, triple, or quadruple after investing in a particular scheme will make your future work much easier. This will help you understand when your goals will be achieved and allow you to plan your remaining financial investments accordingly. Here are three formulas that will simplify this calculation significantly, allowing you to determine in seconds how long it will take for your money to double, triple, or quadruple.

Rule of 72: When will your money double?
The Rule of 72 is a popular investment formula that tells you when your money will double at any given interest rate. To use this formula, simply determine the interest rate and divide it by 72.

Example

If you invest in a Post Office FD at 7.5% interest,

72 / 7.5 = 9.6

That is, your money will double in approximately 9 years and 6 months (about 10 years).

Rule of 114: When will your money triple?
Now let's discuss Rule 114, which tells you when your money will triple. Use the same method. Divide 114 by the interest rate.

Example
In the same Post Office FD example,

114 / 7.5 = 15.2

That is, your money will nearly triple in 15 years and 2 months. This formula is very useful in estimating long-term investment returns.

Rule of 144: When will your money quadruple?
If you want to know when your money will quadruple, use Rule 144. This formula works similarly to the previous two.

Example 1

If the interest rate on a scheme is 6%, then

144 / 6 = 24 years

That is, the amount will quadruple in 24 years.

Example 2
If the interest rate is 7.5%, then.

144 / 7.5 = 19.2 years; that is, the amount will quadruple in approximately 19 years and 2 months.

Why are these formulas important?

They make it easier to create an investment plan.

No calculator is needed to estimate returns.

Different schemes can be compared instantly.

They help in setting an accurate timeline for long-term goals.

Note:
These formulas are approximate, so they do not include the impact of compounding frequency and taxes.

The result will also change if the interest rate changes.

If the scheme involves market risk, these calculations will not be considered 100% accurate.