Question
Consider the following statements about Kisan Vikas
Patra (KVP): 1. The interest rate is 7.5% per annum. 2. The minimum deposit is â‚ą1000. 3. The scheme offers a fixed maturity duration of 10 years.Solution
The maturity duration depends on when the amount doubles (currently 115 months), not a fixed 10 years.
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