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.Â
Bijay can complete a task on his own in 40 days, while Ajay can finish the same task in 25 days. If they alternate working on the...
12.99 × 9.99 + ? × 7 + 240.001 = 21.012Â
40.93√? + √6625 + √6920 + √? = 205.7542`xx` 7.654
3.01√726 + 19.956% of 881.0954 + 25.08% of 2200.96 = ?
1519.98 ÷ 50.48 × 15.12 = ? × 4.16
- 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.)
70.14% of 799.95 - 240.12 = ? + 40.17% of 299.95
√49 + 6.66% of 1725 + 22² = ?² - √361Â
√784 × 3 + (713.99 ÷ 6.98) = ?% of 619.99
- 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.)
