Bank PO Questions


Q:

A chartered bank offers a five-year Escalator Guaranteed Investment Certificate.In successive years it pays annual interest rates of 4%, 4.5%, 5%, 5.5%, and 6%, respectively, compounded at the end of each year. The bank also offers regular five-year GICs paying a fixed rate of 5% compounded annually. Calculate and compare the maturity values of $1000 invested in each type of GIC. (Note that 5% is the average of the five successive one-year rates paid on the Escalator GIC.)

A) 1276.28 B) 1234
C) 1278 D) 1256
 
Answer & Explanation Answer: A) 1276.28

Explanation:

FV = $1000(1.04)(1.045)(1.05)(1.055)(1.06) = $1276.14

 the maturity value of the regular GIC is

 

 FV = $ 1000 x 1.055=  $1276.28

Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams
Job Role: Bank PO

4 7010
Q:

What word begins and ends with an E but only has one letter?

A) Eye B) Envelope
C) Both A & B D) None of the above
 
Answer & Explanation Answer: B) Envelope

Explanation:

Envelope is a letter holder for one letter and in the question it mean that it holds one letter. Eye is also a word which starts and end with E but has one letter in the middle.

Report Error

View Answer Report Error Discuss

3 7008
Q:

 What is the difference between the local values of 3 in the number 43403 ?

A) 0 B) 3030
C) 3003 D) 2997
 
Answer & Explanation Answer: D) 2997

Explanation:

3000 – 3 = 2997

Report Error

View Answer Report Error Discuss

Filed Under: Arithmetical Reasoning
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Bank Clerk , Bank PO

15 7005
Q:

GUI stands for

A) Graphical Universal Interface B) Graph Use Interface
C) Graphical Unique Interface D) Graphical User Interface
 
Answer & Explanation Answer: D) Graphical User Interface

Explanation:

GUI stands for Graphical User Interface.

 

A Graphical User Interface is a computer interface that allows users to interact with a device through graphical elements such as pictures and animations, as opposed to text-based commands.

Report Error

View Answer Report Error Discuss

9 6999
Q:

When 5% is lost in grinding Maize, a country has to import 20 million bags; but when only 2% is lost, it has to import only 15 million bags. Find the quantity of Maize, which grows in the country ?

A) 188 million B) 166 2/3 million
C) 192 3/4 million D) None
 
Answer & Explanation Answer: B) 166 2/3 million

Explanation:

5% - 2% = 3%
=> 3% ------ 5 million bags
100% ---- ?
=> 166 2/3 million bags.

Report Error

View Answer Report Error Discuss

Filed Under: Arithmetical Reasoning
Exam Prep: AIEEE , Bank Exams , CAT , GATE
Job Role: Bank Clerk , Bank PO

8 6999
Q:

How long will it take for two pipes A and B to fill an empty cistern if they worked alternately for an hour each ?

A. Working alone, Pipe A can fill the cistern in 40 hours
B. Pipe B is one third as efficient as Pipe A

A) Only A is sufficient B) Only B is sufficient
C) Both (A) and (B) are sufficient D) None
 
Answer & Explanation Answer: C) Both (A) and (B) are sufficient

Explanation:

From statement A, we know that Pipe A can fill the tank in 40 hours. However, this information is not sufficient as we do not have the data for Pipe B. Hence, statement A alone cannot answer the given question.

From statement B, we know that Pipe B is one third as efficient as pipe A. However, we do not know the rate at which Pipe A fills the tank. Hence, we will not be able to find the rate at which Pipe B fills the cistern. Therefore, statement B alone is not sufficient to answer the question.

Now, if we combine the two statements, we know that Pipe A take 40 hours to fill the cistern.
Pipe B takes 120 hours to fill the cistern.

If they worked alternately, then either Pipe A could have started the cycle or Pipe B could have started the cycle.

If Pipe A started the sequence of filling alternately, then at the end of two hours, the two pipes together would have filled 1/40 + 1/120 = 1/30  th of the tank in an hour. Or the cistern will fill in 30 hours.

If Pipe B started the sequence, then at the end of 2 hours, the two pipes together would have filled 1/120 + 1/40 = 1/30 th of the tank in an hour. Or the cistern will fill in 30 hours.

As the answer obtained irrespective of which pipe started the sequence is the same, the correct answer is (3) - i.e., both the statement are sufficient to answer the question.

Report Error

View Answer Report Error Discuss

Filed Under: Statement and Conclusions
Exam Prep: AIEEE , Bank Exams , CAT , GATE
Job Role: Analyst , Bank Clerk , Bank PO

4 6997
Q:

A sum of Rs. 8,000 is deposited for 3 years at 5% per annum compound interest (compounded annually). The difference of interest for 3 years and 2 years will be

 

A) Rs. 387 B) Rs. 441
C) Rs. 469 D) Rs. 503
 
Answer & Explanation Answer: B) Rs. 441

Explanation:

Given principal amount = Rs. 8000

Time = 3yrs

Rate = 5%

C.I for 3 yrs = 8000 x 105100 x 105100 x 105100 - 8000= Rs. 1261

 

Now, C.I for 2 yrs = 8000 x 105100 x 105100= Rs. 820 

 

Hence, the required difference in C.I is 1261 - 820 = Rs. 441

Report Error

View Answer Report Error Discuss

14 6990
Q:

STIMULANT : ACTIVITY ::

A) diagnosis : treatment B) fertilizer : growth
C) symptom : disease D) food : hunger
 
Answer & Explanation Answer: B) fertilizer : growth

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Analogy
Exam Prep: AIEEE , Bank Exams , GRE , TOEFL
Job Role: Bank PO

14 6987