Question
How many years will it take to double your money with
yearly compounding if the rate of interest is 12%?Solution
The Rule of 72 is a simplified formula that calculates how long it will take for an investment to double in value (t), based on its rate of return. As per the rule: t ~ 72/rate of interest Here, using the Rule of 72, divide the rate of interest in absolute terms by 72, i.e. 72/12 = 6 years approximately To cross check, if P=100 and r =12% and n=6 A = 100*(1.12)6 = 197.38 which is approximately double the amount of the Principal.
What approximate value will replace the question mark (?) in the following?
? –...
'A' and 'B' invested in a business together. 'A', being the working partner, received Rs. 4,500 as commission. He then took 60% of the remaining profit,...
- What approximate value will come in place of the question mark (?) in the following question? (Note: You are not expected to calculate the exact value.)
In a cyclic quadrilateral ABCD, angle A = 70 degrees and angle B = 100 degrees. What is the measure of angle C?
What approximate value will come in place of the question mark (?) in the following question? (Note: You are not expected to calculate the exact value.)...
What approximate value will come in place of the question mark (?) in the following question?
- √143.88 X 31.87 + √323.99 X 15.99 - 31.99 X √195 = ?
(462.23 × 127.84 ÷ 153.88) ÷ √(31.98 × 7.92) = ? ÷ 15.15
32.12% of 2399.98 + 64.04% of 2499.95 = ? × 15.95
31.98% of 224.99 = 24.98% of ? + 9.91% of 499.99
