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Q:

Divide Rs. 1301 between A and B, so that the amount of A after 7 years is equal to the amount of B after 9 years, the interest being compounded at 4% per annum.

A) Rs.625	B) Rs.626
C) Rs.286	D) Rs.627

Answer & Explanation Answer: A) Rs.625

Explanation:

Let the two parts be Rs. x and Rs. (1301 - x).

$x {(1 + \frac{4}{100})}^{7} = (1301 - x) {(1 + \frac{4}{100})}^{9}$

$\frac{x}{(1301 - x)} = {(1 + \frac{4}{100})}^{2} = (\frac{26}{25} * \frac{25}{26})$

=> 625x=676(1301-x)

1301x=676 x 1301x=676.
So,the parts are rs.676 and rs.(1301-676)i.e rs.676 and rs.625

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

Q:

The true discount on Rs.1600 due to after a certain of 5% per annum is Rs.160. The time after which it is due is

A) 27months	B) 23months
C) 20months	D) 12months

Answer & Explanation Answer: A) 27months

Explanation:

P.W. = Rs. (1600 - 160) = Rs. 1440
∴ S.I. on Rs.1440 at 5% is Rs. 160.
∴ Time = [100 * 160 / 1440 * 5] = 20/9 years = [20/9 * 12] months = 27 months.

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Filed Under: True Discount

Q:

Sharon Stone deposits $500 at the beginning of each 3 months in an account earning 10% compounded quarterly. Determine how much money she has after 25 years

A) 22681.19	B) 23456
C) 44577	D) 25685

Answer & Explanation Answer: A) 22681.19

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:

The probabilities that drivers A, B and C will drive home safely after consuming liquor are 2 / 5, 3 / 7 and 3 / 4, respectively. What is the probability that they will drive home safely after consuming liquor ?

A) 3/70	B) 4/70
C) 9/70	D) 1/50

Answer & Explanation Answer: C) 9/70

Explanation:

Let A be the event of driver A drive safely after consuming liquor.

Let B be the event of driver B drive safely after consuming liquor.

Let C be the event of driver C drive safely after consuming liquor.

P(A)=2/5,P(B)=3/7,P(C)=3/4

The events A, B and C are independent . Therefore,

$P (A \cap B \cap C) = P (A) P (B) P (C) = \frac{2}{5} * \frac{3}{7} * \frac{3}{4} = \frac{9}{70}$

Therefore, The probability that all the drivers will drive home safely after consuming liquor is 9/70

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Filed Under: Probability

Q:

I forgot the last digit of a 7-digit telephone number. If 1 randomly dial the final 3 digits after correctly dialing the first four, then what is the chance of dialing the correct number?

A) 1/999	B) 1/1001
C) 1/1000	D) 4/1000

Answer & Explanation Answer: C) 1/1000

Explanation:

It is given that last three digits are randomly dialled. then each of the digit can be selected out of 10 digits in 10 ways.
Hence required probability = ${(\frac{1}{10})}^{3}$ = 1/1000

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Filed Under: Probability

Q:

A bag contains 7 green and 5 black balls. Three balls are drawn one after the other. The probability of all three balls being green, if the balls drawn are not replaced will be:

A) 123/897	B) 23/67
C) 7/44	D) 12/45

Answer & Explanation Answer: C) 7/44

Explanation:

Here, n(E) = $7 C_{1} \times 5 C_{1} \times 5 C_{1}$

And, n(S) = $12 C_{1} * 11 C_{1} * 10 C_{1}$

P(S) = $\frac{7 * 6 * 5}{12 * 11 * 10}$ = 7/44

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Filed Under: Probability

Q:

Sharon Stone deposits $2000 at the end of each year in an account earning 10% compounded annually. Determine how much money she has after 25 years. How much interest did she earn?

A) 146694.12	B) 13452
C) 18232	D) 15627

Answer & Explanation Answer: A) 146694.12

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:

Derrick's dad bought new tires for $900 using a credit card. His card has an interest rate of 19%. If he has no other charges on his card and does not pay off his balance at the end of the month, how much money will he owe after one month?

A) 11.25	B) 13.25
C) 14.25	D) 15.25

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