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A man wishes to accumulate capital worth rs.50440 at the end of 3years from now.if he can invest his savings at 5per cent annum compound interest,what

equal sum must be put aside each year,begenning at the end of the first year ,to obtain the required amount.


Call the required sum  S.

The first sum deposited at the end of first year gets compounded two times, the second sum at the end of second year gets compounded one time and the last sum accumulates no interest.  

 S(1+0.05)^2 + S(1+0.05) + S = 50440

You can solve S.
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