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Q:

For S = $21,000, payments (R) of $1500 at the end of each 6-month periodi= 10% compounded semi-annually. Find the minimum number of payments to accumulate 21,000.

A) 10	B) 11
C) 12	D) 13

Answer & Explanation Answer: B) 11

Explanation:

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

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

Q:

What is the difference between the compound interests on Rs. 5000 for 1 1/2 years at 4% per annum compounded yearly and half-yearly?

A) 2.04	B) 3.04
C) 4.04	D) 5.04

Answer & Explanation Answer: A) 2.04

Explanation:

C.I. when interest
compounded yearly=rs.[5000*(1+4/100)(1+1/2*4/100)]

= Rs. 5304.

C.I. when interest is
compounded half-yearly=rs.5000(1+2/100)^3

= Rs. 5306.04
Difference = Rs. (5306.04 - 5304) = Rs. 2.04

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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:

The probability that a card drawn from a pack of 52 cards will be a diamond or a king, is

A) 5/12	B) 4/13
C) 5/13	D) 3/14

Answer & Explanation Answer: B) 4/13

Explanation:

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Filed Under: Probability

Q:

A speaks truth in 75% of cases and B in 80% of cases. In what percentage of cases are they likely to contradict each other, narrating the same incident

A) 30/100	B) 35/100
C) 45/100	D) 50/100

Answer & Explanation Answer: B) 35/100

Explanation:

Let A = Event that A speaks the truth

B = Event that B speaks the truth

Then P(A) = 75/100 = 3/4

P(B) = 80/100 = 4/5

P(A-lie) = $1 - \frac{3}{4}$ = 1/4

P(B-lie) = $1 - \frac{4}{5}$ = 1/5

Now, A and B contradict each other =[A lies and B true] or [B true and B lies]

= P(A).P(B-lie) + P(A-lie).P(B)

= $(\frac{3}{5} * \frac{1}{5}) + (\frac{1}{4} * \frac{4}{5}) = \frac{7}{20}$

= $(\frac{7}{20} * 100)$ = 35%

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Filed Under: Probability

Q:

A bill falls due in 1 year.The creditor agrees to accept immediate payment of the half and to defer the payment of the other half for 2 years.By this arrangement ins Rs.40.what is the amount of the bill,if he money be worth 12.5%?

A) 1200	B) 3000
C) 3600	D) 1300

Answer & Explanation Answer: C) 3600

Explanation:

Let the sum be Rs. x. Then,

$[\frac{x}{2} + \frac{\frac{x}{2} \times 100}{100 + (\frac{25}{2} \times 2)}] - \frac{x \times 100}{100 + (\frac{25}{2} \times 1)} = 40$

(x/2)+(2x/5)-(8x/9) = 40

x=3600.

Therfore, amount of bill=Rs. 3600.

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Filed Under: True Discount

Q:

A man and his wife appear in an interview for two vacancies in the same post. The probability of husband's selection is (1/7) and the probability of wife's selection is (1/5). What is the probability that only one of them is selected ?

A) 2/7	B) 1/7
C) 3/4	D) 4/5

Answer & Explanation Answer: A) 2/7

Explanation:

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Filed Under: Probability

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