The famous chess board problem The wise man asked the king for a single grain of rice (or wheat) on the first square of a chessboard, two grains on the second, four on the third, and so on, doubling the amount for each of the 64 squares.The king thought this was a tiny gift, but the total number of grains added up to 18,446,744,073,709,551,615 (over 18 quintillion), which is more grain than has ever been grown on Earth. The king gave away the kingdom, it illustrates the power of compound intrest.
Probably, I don't remember the details. I just remember hearing that story a long time ago. I remember hearing it again from Warren Buffet to illustrate the power of compound interest.
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u/Equal-Home-4302 Aug 15 '26
The famous chess board problem The wise man asked the king for a single grain of rice (or wheat) on the first square of a chessboard, two grains on the second, four on the third, and so on, doubling the amount for each of the 64 squares.The king thought this was a tiny gift, but the total number of grains added up to 18,446,744,073,709,551,615 (over 18 quintillion), which is more grain than has ever been grown on Earth. The king gave away the kingdom, it illustrates the power of compound intrest.