Rohan deposits Rs. 80,000 in a fixed deposit scheme offering simple interest at 8% per annum, for a period of 3 years. His sister Meena separately invests Rs. 50,000 in a different scheme offering compound interest at 10% per annum, compounded annually, also for 3 years. Their father, wanting a shorter-term option, invests Rs. 60,000 in a scheme offering compound interest at 20% per annum, compounded annually, for just 2 years.

None of the three family members plans to withdraw any money, or add any further deposits, before their respective schemes mature. Each scheme's interest rate remains fixed for its entire duration, and interest in the compound-interest schemes is added to the principal at the end of each year before the next year's interest is calculated. The family plans to compare all three investments once every scheme has matured, to decide which type of scheme -- simple interest or compound interest -- worked out better for their respective goals.