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Q:

The number of days' sales uncollected is calculated by

A) Dividing accounts receivable by net sales and multiplying by 365. B) Dividing net sales by accounts receivable and multiplying by 365.
C) Dividing accounts receivable by net sales. D) Dividing net sales by accounts receivable.
 
Answer & Explanation Answer: A) Dividing accounts receivable by net sales and multiplying by 365.

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Filed Under: Indian Economy
Exam Prep: Bank Exams

Q:

Earnings per share are calculated by dividing

A) (net income less preferred stock dividends) by average common shares outstanding. B) gross profit by average common shares outstanding.
C) net sales by average common shares outstanding. D) net income by average common shares outstanding.
 
Answer & Explanation Answer: A) (net income less preferred stock dividends) by average common shares outstanding.

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Filed Under: Indian Economy
Exam Prep: Bank Exams

Q:

A bank offers 20% compound interest calculated on half year basis. A customer deposits Rs 9200 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is

A) Rs 11776 B) Rs 2944
C) Rs 1472 D) Rs 5888
 
Answer & Explanation Answer: D) Rs 5888

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Filed Under: Compound Interest
Exam Prep: Bank Exams

Q:

The birth rate in India, Nepal, Sri Lanka, Bangladesh and Pakistan was calculated. The birth rate in Nepal is the lowest, while the birth rate in Pakistan is higher than that in Sri Lanka, and lower than that in India. The birth rate in Bangladesh is higher than that in Nepal, and lower than that in Sri Lanka. Which country has the highest birth rate?

A) Bangladesh B) Pakistan
C) India D) Sri Lanka
 
Answer & Explanation Answer: C) India

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Filed Under: Arithmetical Reasoning
Exam Prep: Bank Exams

Q:

The mean of 100 observations was calculated as 40. It was found later on that one of the observations was misread as 83 instead of 53. The correct mean is:

A) 39 B) 39.7
C) 40.3 D) 42.7
 
Answer & Explanation Answer: B) 39.7

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Filed Under: Average
Exam Prep: Bank Exams

Q:

The average of 100 observations was calculated as 35.It was found later, that one of the observation was misread as 83 instead of 53. The correct average is :

A) 32.7 B) 34.7
C) 35.7 D) 36.7
 
Answer & Explanation Answer: B) 34.7

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Filed Under: Simplification
Exam Prep: Bank Exams

Q:

The average of marks of 17 students in an examination was calculated as 71. But it was later found that the mark of one student had been wronglyentered as 65 instead of 56 and another as 24 instead of 50. The correct average is

A) 70 B) 71
C) 72 D) 73
 
Answer & Explanation Answer: C) 72

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Filed Under: Average
Exam Prep: Bank Exams

Q:

Both S.I. and C.I. is calculated with a similar rate of 10% per annum on a sum of rupees. If C.I. is calculated yearly for two years, then for what period must S.I. be evaluated such that S.I. = C.I.?

A) 4.2 years B) 2.1 years
C) 1.1 years D) 1.4 years
 
Answer & Explanation Answer: B) 2.1 years

Explanation:

Let time period of S.I. be T years.

Then for a principal amount, say P,

ATQ, as, S.I. = C.I. for rate =10%p.a. and

time for C.I. = 2(P x 10 x T)/100 = P{[ (100+10)/100 ]2-1}T/10 = [ 110/100 ]2–1 = [(11/10)2–1] = (121-100)/100T/10 = 21/100T = 21/10 = 2.1 years

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Filed Under: Simple Interest
Exam Prep: Bank Exams
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