The time in which ₹6000 amounts to ₹7986 at 10% p.a

The time in which ₹6000 amounts to ₹7986 at 10% p.a. compounded annually is
(a) 2 years
(b) 3 years
(c) 4 years
(d) 5 years

Solution:

A person wants to invest ₹ 100000 in fixed deposit scheme for 2 years. His financial advisor explained to him two types of schemes first is yielding 10% p.a. compounded annually, second is yielding 10% p.a. compounded semi-annually. Which scheme is better and why? Why investment is important for future life?

Solution:

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