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Q:

In a throw of a coin, find the probability of getting a head.

A) 1	B) 1/2
C) 1/4	D) 0.1

Answer & Explanation Answer: B) 1/2

Explanation:

Here, s={H,T} and E={H}
P(E) = n(E)/n(S) = 1/2

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Filed Under: Probability

Q:

Three dice are thrown together.Find the probability of getting a total of atleast 6.

A) 103/216	B) 103/108
C) 103/36	D) 36/103

Answer & Explanation Answer: B) 103/108

Explanation:

Total number of events=6 x 6 x 6=216
Let A be the event of getting a total of atleast 6 and B denoted event of getting a total of less than 6 i.e.,3,4,5.

So,B={(1,1,1),(1,1,2),(1,2,1),(2,1,1),(1,1,3),(1,3,1),(3,1,1),(1,2,2),(2,1,2),(2,2,1)}

Favourable number of cases=10

Therefore,P(B)=10/216

=> P(A) = 1 - P(B)

= 1 - (10/216) = 103/108

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Filed Under: Probability

Q:

Rondell's parents borrow $6,300 from the bank for a new car. The interest rate is 6% per year. How much simple interest will they pay if they take 2 years to repay the loan?

A) 556	B) 665
C) 756	D) 856

Answer & Explanation Answer: C) 756

Explanation:

I=prt

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

Q:

A merchant receives an invoice for a motor boat for $20 000 with terms 4/30, n/100. What is the highest simple interest rate at which he can afford to borrow money in order to take advantage of the discount?

A) 247.67	B) 237.67
C) 227.67	D) 215.67

Answer & Explanation Answer: A) 247.67

Explanation:

Suppose the merchant will take advantage of the cash discount of 4% of $20 000 = $800 by paying the bill within 30 days from the date of invoice. He needs to borrow $20 000 = $800 = $19 200. He would borrow this money on day 30 and repay it on day 100 (the day the original invoice is due) resulting in a 70-day loan. The interest he should be willing to pay on borrowed money should not exceed the cash discount $800.

r=I/pt=21.73%

The highest simple interest rate at which the merchant can afford to borrow money is 21.73%. This is a break-even rate. If he can borrow money, say at a rate of 15%, he should do so. He would borrow $19 200 for 70 days at 15%. Maturity value of the loan is $19 200(1+0.15(70/365))=$19 752.33

savings would be $20 000 − $19 752.33 = $247.67

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

Q:

The probabiltiy that throw of two dice yields a total of 5 or 6 is:

A) 2/14	B) 5/18
C) 3/4	D) 1/4

Answer & Explanation Answer: B) 5/18

Explanation:

Total number of cases=36

Number of favourable cases(sum 5 or 6)=10

P(getting total of 5 or 6)=10/36=5/18

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Filed Under: Probability

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

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Q:

An unbiased cubic die is thrown.What is the probabiltiy of getting a multiple of 3 or 4?

A) 1/12	B) 1/9
C) 3/4	D) 1/2

Answer & Explanation Answer: D) 1/2

Explanation:

Total numbers in a die=6

P(mutliple of 3) = 2/6 = 1/3

P(multiple of 4) = 1/6

P(multiple of 3 or 4) = 1/3 + 1/6 = 1/2

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Filed Under: Probability

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

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