1. Prachi needs Rs. 12,00,000 after 8 years for her son's higher education and Rs. 10,00,000 after 6 years for her daughter's higher education. Rate of return is 14% p.a. How much lump sum amount she should invest now to meet both her financial goals of children's higher education?

2. Samir wishes to buy a car costing around Rs. 5,00,000 after 3 years with his own saved money. He has a high risk appetite and wishes to invest in sector fund about which he is optimistic. He expects a return of 20% from this. Assuming his expectations are going to be correct, how much should he invest now?

3. Ravi is a self-employed person and is doing very well in his business. He has planned to buy a house after 10 years with his own money without taking any loan. He has identified a house which costs around Rs. 25,00,000 now. The cost of houses are increasing at the rate of 7% per annum. How much will he require to buy the similar house after 10 years?

4. The cost of a one-month trip to Australia is Rs. 3,50,000 in today's term Rahul wishes to make a one-month trip to this beautiful country after 3 years. Cost of the trip is increasing by 5% every year. Rate of return on investmer is 12% p.a. How much money will he require in order to make this trip after 3 years and how much should he invest now at annual compounding in order to make this dream a reality?