Just when you thought you were through with solving and balancing equations after school, you realise that math things are everywhere even in real life.
This time, the lessons are dedicated to make your life easier. How awesome is that? Well, we have compiled a list of some of the cool math tips that will make your life easier and make you realise that math is fun.
Calculating percentages can be a time consuming task and you don’t want to be caught busting out your smartphone to do the calculation. Multiply the numbers first and include the decimals later. Remember that a percent is a fraction out of 100, therefore after you get the answer, move the decimal two digits to the left.
The Rule of 72
Perhaps you are eager to know how long it will take to double your money. Put the calculator aside and let the rule of 72 determine your growth rate.
So, divide 72 with your projected interest rate, and that will be you’re the projected time it will take to double your returns. If your money increases by 10% every year, it will take 7.2 years to double.
The Rule of 115
If doubling your returns does not fall under the big ideas in math, you may decide to takes thing to another level and try tripling your fortune. Simply use the number 115 to estimate the total number of years it will take to triple your returns.
So, if your returns are growing at a rate of 10% per year, it would take 11.5 years to triple them.
Determine the Hourly Rate
Suppose you are a normal employee with a salaried job and you try hard to figure out the amount you earn per hour. Simply, take your annua salary, omit the last three zeros then divide by the number two. So, if your salary is $60,000 then your hourly rate will be 60/2=$30. Keeping other things constant, the $30 per hour seems like a better pay.
Multiply by 11
When multiplying a figure by 11, it is important to remember to leave out the last and first digits, then add each pair of digits next to each other.
5,392 x 11 can be solved as follows: (5)(5+3), (3+9)(9+2)(2) or 59,312.
Rule of 70
For those who think through math, the rule of 70 shows the time it takes for inflation to attain the value of half the value of a dollar. This is simple, just divide 70 by the projected rate of inflation.
So, if the expected rate is 4% inflation, divide 70 by 4. This means that it will take 17. 5 years before the value of your money becomes half of what is today.
Balanced Average Technique
Rather than using the average formula, you may go for a balanced average approach. This can be a list of items you are trying to match so you try to balance them to achieve your goal. For instance if you have 7 exams in your end of year exam and you want to get atleast 85 out of 100. You need to make sure that you do you best to score either 85 and above, and if you get a score lower than that, it means you have to cover up for it in the next subject.
Multiplication by 4
Multiplying a number by four is quite fast. First double the original number and then double it again. For example; 1,334 x 4: double 1,334 is 2,668, and double 2,668 is 5,336.
There are many more math tricks that are worth checking out. What are your favourite ones. Feel free to share with us in our comment box.