One is XL = 2piFL and other is XL = V/I (Ohm's law). Why we have 2
formulas for inductive reactance.
We don't. An inductor's impedance has two components. One (ohmic) is independent of frequency. The other (inductive) is proportional to frequency. The two components behave differently, so each has a different formula. And only the second formula describes inductive reactance. The first, although part of any real inductor (except for superconductors), is not, properly speaking, inductive.
And you should keep in mind that, while we're on the subject of "real" components, that real inductors also have a capacitive term. This will affect any inductor used in a resonant circuit, since resonance frequency will be affected by the intrinsic capacitance.