On a certain sum of money, a man paid an interest of Rs. 5044 after 3 years at a rate of 5% per annum compounded annually. Find the sum.

On a certain sum of money, a man paid an interest of Rs. 5044 after 3 years at a rate of 5% per annum compounded annually. Find the sum.
1). Rs. 42000
2). Rs. 58000
3). Rs. 31100
4). Rs. 32000

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