Srinagar, March 25 -- Did you know that the rule of 72 is an important concept that can greatly impact our personal financial health? This rule is used to determine how many years it will take for an investment to double at a given interest rate. For example, if you invest in a fixed deposit with a 7% annual return, it will take approximately 10.28 years for your money to double. If the return is 10%, it will take 7.2 years; for 15%, it will take 4.8 years; and for 20%, it will take 3.6 years.

To put this into perspective, let's consider an investment of 1 lakh rupees in 1994. If this money had been invested at a compounding return of 20% annually, it would have grown to an impressive 2.37 crore rupees in 30 years. This means that the mo...