How to save ₹5 crores in 10 years?

According to the Future Value calculation:

Assuming an interest rate of 8% per annum, you would need to invest approximately ₹2,138,919 today to reach ₹5 crores in 10 years.

This calculation is based on the future value formula:

FV = PV * (1 + r)^n

Where:

FV = Future Value (₹5 crore)
PV = Present Value (the amount you need to invest today)
r = Interest Rate (8% per annum, expressed as a decimal, 0.08)
n = Number of periods (10 years)

By plugging these values into the formula, we get:

₹5,00,00,000 = PV * (1 + 0.08)^10

Solving for PV, we find that PV ≈ ₹2,138,919.

So, you would have to ₹2,138,919 to reach ₹5 crores in 10 years