Management Aptitude Test 2017 Paper

(b) ₹ 1736
Let, principal amount = ₹ P
Compound interest paid at the end of the first year
=

P×10×1

100

Amount (A1) = P×

10

100

+ P = ₹

110P

100

Principal amount for the second year =

110P

100

- 1000
Then, compound interest for 2nd year + Amount (A1) = Amount paid in 2nd year.
⇒ [

110P

100

−1000]×

10

100

+ [

110P

100

−1000] = 1000
⇒ [

11P−10000

100

] + [

11P−10000

10

] = 1000
⇒ 11P - 10000 + 110P - 100000 = 100000
⇒121 p - 110000 = 100000
⇒121p = 210000
⇒ P = ₹ 1735.53
⇒ P = ₹ 1736 (approx.)