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Q:

Find the annual interest rate that produces $100,000 from $20,000 in 15 years.

A) 9.33% B) 10.33%
C) 11.33% D) 12.33%
 
Answer & Explanation Answer: C) 11.33%

Explanation:

l=(F/P)^1/n-1

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

Q:

Find the principal which yields $25,000 when invested at 3% annually for 20 years.

A) 13841.89 B) 14821
C) 13468 D) 57389
 
Answer & Explanation Answer: A) 13841.89

Explanation:

P=F1+in

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

Q:

Calculate the future value of $3,000 invested at 7% for 5 years

A) 4207.66 B) 5207
C) 4376 D) 5687
 
Answer & Explanation Answer: A) 4207.66

Explanation:

F=P(1+i)^n

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

Q:

In order to obtain an income of Rs. 650 from 10% stock at Rs. 96, one must make an investment of:

A) 3100 B) 6240
C) 6500 D) 9600
 
Answer & Explanation Answer: B) 6240

Explanation:

To obtain Rs. 10,  investment = Rs. 96.

 

To obtain Rs. 650, investment = Rs.96*65010 = Rs. 6240.

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Filed Under: Stocks and Shares

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:

Explain 5-4-3 rule

Answer

In a Ethernet network, between any two points on the network, there can be no more than five network segments or four repeaters, and of those five segments only three of segments can be populated.

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Subject: Network Administration
Job Role: Network Engineer

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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Filed Under: Probability

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