Question

a man wishes to accumulate capital worth rs 50400 at 3 years if the rate of compound interest is 5.and he puts aside an equal amount beginning at the end of the first year to get the required amount.

Answer 1

Let he aside sum of amount = x  
After one year he have total amount = 
= 
He adds again his saving amount so, the total amount at starting of second year = 
= 
Again he got compound interest, so he has amount = 
= 
Now he adds his saving , so he has total amount at the end of three year = 

= 
And given he has 50,440 at the end of three year , so
 = 
 = 
So he had set aside Rs 16,000 per year.