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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

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

Q:

A sapphire ring with a marked price of $1800 is offered to the purchaser on the following terms: $200 deposit and the balance to be paid over 24 equal monthly instalments with interest charged at 11.5% p.a. flat rate. Find the monthly repayments

A) $53	B) $42
C) $62	D) $82

Answer & Explanation Answer: D) $82

Explanation:

Total repayment amount = $1600 + $368
= $1968
= $82

regular payment= total amount/number of repayments

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

Q:

At the beginning of March, Ryan had $621 in his savings bank account. On 10 March he deposited $60. If the bank pays 8% p.a. interest paid monthly and calculated on the minimum monthly balance, calculate the interest Ryan earns in March.

A) 2.14	B) 3.14
C) 5.14	D) 4.14

Answer & Explanation Answer: D) 4.14

Explanation:

I = (P x T x R) /100

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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
Exam Prep: Bank Exams
Job Role: Bank PO

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:

Find the simple interest charged on borrowing $325 for 5 years at 3% p.a. (per annum or per year) interest.

A) 59	B) 46
C) 48.75	D) 34.75

Answer & Explanation Answer: C) 48.75

Explanation:

I= $\frac{P T R}{100}$

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

Q:

What is multicast routing?

Answer

Sending a message to a group is called multicasting, and its routing algorithm is called multicast routing

Workspace

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Subject: Networking
Job Role: Network Engineer

Q:

A runs $1 \frac{2}{3}$ times as fast as B. If A gives B a start of 80 m, how far must the winning post be so that A and B might reach it at the same time?

A) 200 m	B) 300m
C) 270m	D) 160m

Answer & Explanation Answer: A) 200 m

Explanation:

Ratio of the speeds of A and B =5 : 1 = 5 :3

Thus, in race of 5 m, A gains 2 m over B.

2 m are gained by A in a race of 5 m.

80 m will be gained by A in race of $(\frac{5}{2} * 80)$ m =200m

=> Winning post is 200 m away from the starting point.

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Filed Under: Races and Games

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