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
The dimensional formula of angular momentum is:
Kindly Study the following questions carefully and choose the right answer:
Transpiration is mainly effective during _______ ?
What is the primary reason for the blue color of the sky?
Which part of the flower is responsible for producing pollen?
When electric current is passed through a wire, the amount of heat produced in a wire depends upon _____.
I. Length
II. Thickness
At the extreme end (maximum displacement) of a simple harmonic oscillation:
To measure the speed of an approaching car a police officer shines –
Which of the following is the most common cause of stomach ulcers?
Which element is the constituent of the chlorophyll molecule?
Which of the following constitutes a food chain ?
