Basic tachometer can be built by having the shaft pulse trigger
a one shot. The average voltage at the output of the one shot
is reasonably proportional to shaft speed. This voltage could
be displayed on a Digital Panel Meter module.
Biggest problem is that when the shaft is turning slow,
the pulse rate at the output of the one shot could be as slow
as 0.3Hz. It is very hard to low pass filter the one shot's
output to get rid of the ripple. It would take too long for
the filtered output to settle to a new value after an RPM change.
In the real world, RPM measurement is usually done by timing
the period bewteen two successive pulses, a simple job for
a PIC style microcontoller chip. To display the RPM, it is
necessary to divide a constant by the Period, convert to
BCD and then drive a display.
For example, if your shaft is turning 600RPM, that is
10 pulses per second, or a Period of 100ms.
Suppose that you use the Pulses to gate a fixed 10KHz oscillator
into an upcounter (Timer register). After 100msec, you will have
accumulated 10000 x 0.1 or 1000 cycles.
What constant divided by 1000 yields 600? Answer is 600000.
So when each pulse arrives, the microcontroller has to divide
600000 by the value in the timer register, then zero the
register for the next cycle.
It then has to convert the dividend to decimal, and drive
3 digits worth of seven-segement displays...
Or you can buy this:
http://www2.towerhobbies.com/cgi-bin/wti0001p?&I=LXPT31&P=FR