5% Search

Q:

What is the probabiltiy of getting a mutliple of 2 or 5 when an unbiased cubic die is thrown?

A) 1/3	B) 1/2
C) 2/3	D) 1/6

Answer & Explanation Answer: C) 2/3

Explanation:

Total numbers in die=6

P(multiple of 2)=1/2

P(multiple of 5)=1/6

P(multiple of 2 or 5)=2/3

Report Error

View Answer Report Error Discuss

Filed Under: Probability

Q:

One card is drawn at random from a pack of 52 cards. What is the probability that the card drawn is a face card (Jack, Queen and King only)?

A) 3/13	B) 1/13
C) 3/52	D) 9/52

Answer & Explanation Answer: A) 3/13

Explanation:

Clearly, there are 52 cards, out of which there are 12 face cards.

P (getting a face card) = 12/52=3/13.

Report Error

View Answer Report Error Discuss

Filed Under: Probability

Q:

Jackie deposits $325 in an account that pays 4.1% interest compounded annually. How much money will Jackie have in her account after 3 years?

A) 346.64	B) 356.64
C) 366.64	D) 376.64

Answer & Explanation Answer: C) 366.64

Explanation:

A=P(1+r)^t

Report Error

View Answer Report Error Discuss

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

Q:

Josh borrowed $250 from his mother to buy an electric scooter. Josh will pay her back in 1 year with 3% simple annual interest. How much interest will Josh pay?

A) 7.50	B) 8.50
C) 9.50	D) 10.50

Answer & Explanation Answer: A) 7.50

Explanation:

I=prt/100

Report Error

View Answer Report Error Discuss

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

Q:

Dianna deposits $725 into a savings account that pays 2.3% simple annual interest. How much interest will Dianna earn after 18 months?

A) 23.01	B) 24.01
C) 25.01	D) 26.01

Answer & Explanation Answer: C) 25.01

Explanation:

I = Prt

Report Error

View Answer Report Error Discuss

Filed Under: Quantitative Aptitude - Arithmetic Ability
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

If you deposit $5000 into an account paying 6% annual interest compounded monthly, how long until there is $8000 in the account?

A) 6.9	B) 7.9
C) 8.9	D) 9.9

Answer & Explanation Answer: B) 7.9

Explanation:

FV=P(1+r/n)^nt

Report Error

View Answer Report Error Discuss

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

Q:

If you deposit $6500 into an account paying 8% annual interest compounded monthly, how
much money will be in the account after 7 years?

A) 11358.24	B) 12334
C) 15789	D) 12386

Answer & Explanation Answer: A) 11358.24

Explanation:

FV=P(1+r/n)^nt

Report Error

View Answer Report Error Discuss

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

Q:

If you deposit $4000 into an account paying 6% annual interest compounded quarterly, how much money will be in the account after 5 years ?

A) 3387.42	B) 4387.42
C) 5387.42	D) 6387.42

Answer & Explanation Answer: C) 5387.42

Explanation:

The mathematical formula for calculating compound interest depends on several factors. These factors include the amount of money deposited called the principal, the annual interest rate (in decimal form), the number of times the money is compounded per year, and the number of years the money is left in the bank.

$F V = p {(1 + \frac{r}{n})}^{n t}$

FV = Future value of the Deposit

p = Principal or Amount of Money deposited

r = Annual Interest Rate (in decimal form )

n = No of times compounded per year

t = time in years

$F V = 4000 {[1 + \frac{0.06}{4}]}^{4 (5)}$ = 5387.42

Report Error

View Answer Report Error Discuss

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

Searching for "5%"

Quick Links