Define Compound Annual Growth Rate (CAGR) and give the formula for calculating CAGR. Using the formula, calculate CAGR of Vikas's investment given…

Define Compound Annual Growth Rate (CAGR) and give the formula for calculating CAGR. Using the formula, calculate CAGR of Vikas's investment given below : Vikas invested ₹ $\displaystyle 10,000$ in a stock of a company for $\displaystyle 6$ years. The value of his investment at the end of each year is given below :

Year $\displaystyle 1$	Year $\displaystyle 2$	Year $\displaystyle 3$	Year $\displaystyle 4$	Year $\displaystyle 5$	Year $\displaystyle 6$
₹ $\displaystyle 11,000$	₹ $\displaystyle 11,500$	₹ $\displaystyle 11,650$	₹ $\displaystyle 11,800$	₹ $\displaystyle 12,200$	₹ $\displaystyle 14,000$

[Use $\displaystyle (1.4)^{1 / 6}=1.058$]