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Q:

Rondell's parents borrow $6,300 from the bank for a new car. The interest rate is 6% per year. How much simple interest will they pay if they take 2 years to repay the loan?

A) 556 B) 665
C) 756 D) 856
 
Answer & Explanation Answer: C) 756

Explanation:

I=prt

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

Q:

If an unbiased dice is rolled once, the odds in favour of getting a point which is multiple of 3 is:

A) 1/2 B) 2/1
C) 1/3 D) 3/1
 
Answer & Explanation Answer: C) 1/3

Explanation:

Total number =6

Getting a 'multiple of 3' = 2 . So, probability = 2/6 =1/3

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Filed Under: Probability

Q:

You put $750 into a certificate of deposit. Your simple annual interest rate is 4%. You receive a check for the interest at the end of each year. How long will it take to earn $150 in interest?

A) 5years B) 6years
C) 7years D) 8years
 
Answer & Explanation Answer: A) 5years

Explanation:

I=prt

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

Q:

You deposit $600 into a 6 month certificate of deposit. After 6 months the balance is $618. Find the simple annual interest rate.

A) 5% B) 4%
C) 6% D) 7%
 
Answer & Explanation Answer: C) 6%

Explanation:

I=prt

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Filed Under: Simple Interest
Exam Prep: Bank Exams
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Q:

If a card is drawn at random from a pack of 52 cards,what is the chance of getting a spade or ace?

A) 0.25 B) 5/13
C) 0.20 D) 4/13
 
Answer & Explanation Answer: D) 4/13

Explanation:

Number of spades in a standard deck of cards=13
Number of aces in a standard deck of cards=4
And,one of the aces is a spade.
So, 13 + 4 - 1 = 16 spades or aces to choose from.
Therfore,probabiltiy of getting a spade or an ace=16/52=4/13

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Q:

loan of $15 000 is taken out. If the interest rate on the loan is 7%, how much interest is due and what is the amount repaid if the loan was taken out on April 7 and is due in seven months

A) 13615.52 B) 14615.52
C) 15615.52 D) 16615.52
 
Answer & Explanation Answer: C) 15615.52

Explanation:

I = prt = [15000 × 0.07 × (214/365) ]=615.52

Future value, S = P + I = $15 000 + $615.52 = $15 615.52

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

Q:

A loan of $15 000 is taken out. If the interest rate on the loan is 7%, how much interest is due and what is the amount repaid if the loan is due in seven months

A) 15612.50 B) 14612.50
C) 13612.50 D) 17612.50
 
Answer & Explanation Answer: A) 15612.50

Explanation:

We have P = 15 000, r = 0.07 and since the actual date the loan was taken out
is not given, we use t =7/12

I = Prt=$15 000* 0.07* 7/12 = $612.50

Amount repaid = Future or accumulated value,

S = P + I = $15 000 + $612.50 = $15 612.50

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

Q:

In loading programs into memory, what is the difference between load-time dynamic linking and run-time dynamic linking?

Answer

For load-time dynamic linking: Load module to be loaded is read into memory. Any reference to a target external module causes that module to be loaded and the references are updated to a relative address from the start base address of the application module.


With run-time dynamic loading: Some of the linking is postponed until actual reference during execution. Then the correct module is loaded and linked.

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Subject: Operating Systems