Moneyfront’s Mohit Gang on key rules to manage your personal finances

Now, let us say if the rate of interest is 10 percent and you divide 114 by that your money triples in 11.4 years. You divide 144 by 10 percent, your money quadruples in 14.4 years.

"So it's a very simple way and it can be used in the alternative fashion to compute the number of years and also to compute the rate of interest," Gang said.

On rule 70 which includes the impact of inflation, he said, “This is almost akin to the 72 rule. However, you are going the reverse way in this and you follow the rule of 70 for computing. A very simple thumb rule is you divide 70 by the rate of inflation, the number that you arrive at tells you in how many years will your money actually half in real word, or in real sense.”

On 4 percent rule, Gang said, “For someone who just wants to do a quick computation in mind to figure out retirement corpus, just apply the4 percent rule which is also called the Trinity rule.”