Bank Exams Questions

Q:

Sharon Stone deposits $2000 at the end of each year in an account earning 10% compounded annually. Determine how much money she has after 25 years. How much interest did she earn?

A) 146694.12 B) 13452
C) 18232 D) 15627
 
Answer & Explanation Answer: A) 146694.12

Explanation:

S=R[(1+i)^n-1]/i

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Q:

A sweet seller sells 3/5th part of sweets at a profit of 10% and remaining at a loss of 5%. If the total profit is Rs 1500, then what is the total cost price of sweets ?

A) Rs.37,500 B) Rs.36,400
C) Rs.37,415 D) Rs.36,500
 
Answer & Explanation Answer: A) Rs.37,500

Explanation:

Assume A be the cost price.

Therefore,

=>  A = Rs 37,500.

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Q:

Ajay and Vijay have some marbles with them. Ajay told Vijay "if you give me 'x' marbles, both of us will have equal number of marbles". Vijay then told Ajay "if you give me twice as many marbles, I will have 30 more marbles than you would". Find 'x'  ?

A) 4 B) 10
C) 8 D) 5
 
Answer & Explanation Answer: D) 5

Explanation:

If Vijay gives 'x' marbles to Ajay then Vijay and Ajay would have V - x and A + x marbles.
V - x = A + x --- (1)
If Ajay gives 2x marbles to Vijay then Ajay and Vijay would have A - 2x and V + 2x marbles.
V + 2x - (A - 2x) = 30 => V - A + 4x = 30 --- (2)
From (1) we have V - A = 2x
Substituting V - A = 2x in (2)
6x = 30 => x = 5.

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Q:

If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time?

A) Rs.51.25 B) Rs.52
C) Rs.53 D) Rs.54
 
Answer & Explanation Answer: A) Rs.51.25

Explanation:

Sum =Rs.(50 x 100/2x5)

= Rs. 500.

Amount

=[Rs.500x(1+5/100)²]

=Rs(500x21/20x21/20).

=Rs. 551.25

 

C.I

= Rs. (551.25 - 500)

= Rs. 51.25

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Q:

When $720 is invested for 36 months it earns $205.20 simple interest. Find the yearly interest rate.

A) 7.5% B) 8.5%
C) 9.5% D) 10.5%
 
Answer & Explanation Answer: C) 9.5%

Explanation:

r = (100 x I)/(P x T)

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