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Q:

The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:

A) 2	B) 3
C) 4	D) 5

Answer & Explanation Answer: A) 2

Explanation:

Amount = Rs. (30000 + 4347) = Rs. 34347

(1+7/100)^n=34347

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

Q:

The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:

A) 625	B) 635
C) 645	D) 655

Answer & Explanation Answer: A) 625

Explanation:

Let the sum be Rs. x. Then

C.I=x[1+4/100)^2-x]=[626/675x-x]

S.I=x^2/25

C.I-S.I=1

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

Q:

In a lottery, there are 10 prizes and 25 blanks. A lottery is drawn at random. What is the probability of getting a prize ?

A) 1/7	B) 2/7
C) 3/7	D) 2/5

Answer & Explanation Answer: B) 2/7

Explanation:

P(getting prize) = 10/ (10 + 25) =2/7

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Filed Under: Probability

Q:

The value of $(\frac{1}{\log_{3} 60} + \frac{1}{\log_{4} 60} + \frac{1}{\log_{5} 60}) i s$

A) 0	B) 1
C) 5	D) 60

Answer & Explanation Answer: B) 1

Explanation:

=> $\log_{60} (3 * 4 * 5)$

=> $\log_{60} (60)$

= 1

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Filed Under: Logarithms
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

Two dice are tossed. The probability that the total score is a prime number is :

A) 1/6	B) 1/2
C) 5/12	D) 3/4

Answer & Explanation Answer: C) 5/12

Explanation:

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Filed Under: Probability

Q:

A man purchased a cow for Rs. 3000 and sold it the same day for Rs. 3600, allowing the buyer a credit of 2 years. If the rate of interest be 10% per annum, then the man has a gain of:

A) 0%	B) 5%
C) 7.5%	D) 10%

Answer & Explanation Answer: A) 0%

Explanation:

C.P = Rs.3000

S.P =Rs. [3600 x 10] / [100+(10 x 2)] = Rs.3000

Gain =0%

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Filed Under: True Discount

Q:

A man buys a watch for Rs. 1950 in cash and sells it for Rs. 2200 at a credit of 1 year. If the rate of interest is 10% per annum, the man:

A) gains Rs. 55	B) gains Rs. 50
C) loses Rs. 30	D) gains Rs. 30

Answer & Explanation Answer: B) gains Rs. 50

Explanation:

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Filed Under: True Discount

Q:

$i f \log \frac{a}{b} + \log \frac{b}{a} = \log (a + b), t h e n$

A) a + b = 1	B) a - b = 1
C) a = b	D) ab=1

Answer & Explanation Answer: A) a + b = 1

Explanation:

$i f \log \frac{a}{b} + \log \frac{b}{a} = \log (a + b), t h e n$

$\log (a + b) = \log (\frac{a}{b} \times \frac{b}{a}) = \log 1$

so, a+b=1

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Filed Under: Logarithms
Exam Prep: Bank Exams
Job Role: Bank PO

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