At the retirement what is true?

Mr. Ajay and Vijay both are 30 years old. And both are 30 years away from their retirements. Ajay saves Rs. 10,000/- p.a. for 8 years and stops. Vijay starts investing after Ajay stops and saves Rs. 10,000/- p.a. till he retires. Their savings earn 10% p.a. compounded yearly.

At the retirement what is true?
A . Vijay saves more than Ajay by Rs. 5,99,668/­
B . Vijay saves more than Ajay by Rs. 1,40,000/­
C . Ajay saves more than Vijay by Rs. 1,40,000/­
D . Ajay saves more than Vijay by Rs. 2,16,886/­

View Answer

Answer: D