Once there was a king. He was fond of playing this amazing game of chess. He was impressed with the person who invented this interesting game. As we all know chess is a Sharpe mind game in which we all wait for our turn and then make a smart move. Anyway, he decided to give a reward to the inventor of this amazing game compound effect.
The old man came to the palace of the king. He was honored by the king. The king asked him for the reward for such an amazing game. The old man replied to the king “I only want you to put one grain in the very first box of chess, Then double the grains in the second keep increasing the grains one by one, and give me the grains of the last box in the game.
“The king found this reward very amazing and considered it a joke.” The king replied are you making a joke to me. Ask for something big as a reward. But the old man asked the same thing. The king decided to give him the same thing that he asked for.
Servants of the king take the old man to the grains stock and start counting the grains and double the count after every box in the game.
They were very surprised when they came to know that the final box contained unlimited grains and the stock was not enough to give him. Servants came back to the king and told them the whole story that if we double the grains in chess one by one, then the final box contains the whole world grain. We do not have much stock for it.
The king was shocked and impressed once again by the old man’s choice. The old man requested the entire world’s money as a reward, exemplifying the compound effect of doing small things consistently to achieve significant results.
Story Lesson
Small things can make a big difference.
The Magic of Compound Interest (Formulas & Examples)
You can understand the magic of compound interest as the chessboard contains a total of 64 squares. When the man asked the king. If you place 1 grain of rice in the first square and repeat it in the next square. So, the entire number of paddy is calculated like this: 1 + 2 + 4 + 8 + 16 + 32. When it has a total of 64 squares.
The total amount of rice will be 18,446,744,073,709,551,615. It is difficult to understand how to count it. But generally, if we estimate it, the total price will be 461 billion calculation units. Nowadays, the worth of that grain is more than 300 trillion dollars, which is equivalent to the total wealth of the whole world.
Therefore, the man is very wise and man didn’t just take small grains of rice. He understands the power of the compound effects, so what he is asking for is the total wealth of the world. The other reason is the Movement of the compound interest effect.
This phenomenon, also known as the domino effect or the snowball effect, occurs when someone invests in something and receives a return on their investment. In the movement of the compound interest effect, we can get the profit from the profit. The cash grows rapidly over time. That’s the reason your money will continue to multiply over time.
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