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Q:

An investment bond is offered to the public at 9% p.a. Louise buys a bond worth $2000 that will mature in 2 years. How much in total will Louise receive at the end of the 2 years?

A) 3360 B) 2360
C) 4360 D) 5360
 
Answer & Explanation Answer: B) 2360

Explanation:

I = (P x r x t)/100

I = $360

A = P+I

A = 2360

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

Q:

Townbank offers a term deposit account paying investors 12.5% p.a. simple interest on investments over $100 000 for 2 years or more. Peta decides to invest $150 000 in this account for 2 years. How much interest will Peta earn at the end of the investment?

A) 57500 B) 47500
C) 37500 D) 67500
 
Answer & Explanation Answer: C) 37500

Explanation:

I = (p x t x r)/100

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Filed Under: Simple Interest
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Q:

Jaclyn buys $50 000 worth of debentures in a company. She earns 9.5% p.a. simple interest, paid to her quarterly (that is, every 3 months). If the agreed period of the debenture was 18 months: calculate the total amount collected at the end of the term.

A) 8125 B) 9125
C) 7125 D) 6125
 
Answer & Explanation Answer: C) 7125

Explanation:

total interest=1187.50*6

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Filed Under: Simple Interest
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Q:

Jaclyn buys $50 000 worth of debentures in a company. She earns 9.5% p.a. simple interest, paid to her quarterly (that is, every 3 months). If the agreed period of the debenture was 18 months: calculate the amount of interest Jaclyn will earn for each quarter

A) 1187.50 B) 1234
C) 1289 D) 1345
 
Answer & Explanation Answer: A) 1187.50

Explanation:

I=(p x r x t)/100

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

Q:

An amount of $255 was invested at 8.5% p.a. How long will it take, to the nearest year, to earn $86.70 in interest?

A) 2years B) 3years
C) 4years D) 5years
 
Answer & Explanation Answer: C) 4years

Explanation:

T = (100 x I)/ (P x r)

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

When $720 is invested for 36 months it earns $205.20 simple interest. Find the yearly interest rate.

A) 7.5% B) 8.5%
C) 9.5% D) 10.5%
 
Answer & Explanation Answer: C) 9.5%

Explanation:

r = (100 x I)/(P x T)

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

Jan invested $210 with a building society in a fixed deposit account that paid 8% p.a. simple interest for 18 months. How much did she receive after the 18 months?

A) 434 B) 345
C) 235.20 D) 233.20
 
Answer & Explanation Answer: C) 235.20

Explanation:

I = (p x r x t)/100

I = $25.20

A = P+I

A = 235.20

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

Q:

In a 100 m race, A can beat B by 25 m and B can beat C by 4 m. In the same race, A can beat C by:

A) 21 m B) 26 m
C) 28m D) 29m
 
Answer & Explanation Answer: C) 28m

Explanation:

A : B = 100 : 75

 

B : C = 100 : 96.

 

A : C = (A/B*B/C) = (100/75*100/96) = 100/72  =100:72     

 

   A beats C by (100 - 72) m = 28 m.

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Filed Under: Races and Games