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Q:

If the letters of the word SACHIN are arranged in all possible ways and these words are written out as in dictionary, then the word ‘SACHIN’ appears at serial number :

A) 601	B) 600
C) 603	D) 602

Answer & Explanation Answer: A) 601

Explanation:

If the word started with the letter A then the remaining 5 positions can be filled in 5! Ways.

If it started with c then the remaining 5 positions can be filled in 5! Ways.Similarly if it started with H,I,N the remaining 5 positions can be filled in 5! Ways.

If it started with S then the remaining position can be filled with A,C,H,I,N in alphabetical order as on dictionary.

The required word SACHIN can be obtained after the 5X5!=600 Ways i.e. SACHIN is the 601th letter.

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Filed Under: Permutations and Combinations

Q:

Payments of $2000 and $1000 were originally scheduled to be paid one year and five years, respectively, from today. They are to be replaced by a $1500 payment due four years from today, and another payment due two years from today. The replacement stream must be economically equivalent to the scheduled stream. What is the unknown payment, if money can earn 7% compounded semiannually?

A) 1548	B) 1348
C) 1648	D) 1748

Answer & Explanation Answer: C) 1648

Explanation:

FV1 = Future value of $2000, 1 year later
= PV (1+ i)^n

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

Q:

If the rate of inflation for the next 20 years is 2.5% per year, what annual income will be needed 20 years from now to have the same purchasing power as a $30,000 annual income today?

A) 39158	B) 49158
C) 59158	D) 69158

Answer & Explanation Answer: B) 49158

Explanation:

i=j/m

FV = PV(1+ i)^n

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

Q:

A $1000 face value Series S50 compound interest Canada Savings Bond (CSB) was presented to a credit union branch for redemption.What amount did the owner receive if the redemption was requested on:January 17, 2001?

A) 1206	B) 1306
C) 1406	D) 1506

Answer & Explanation Answer: B) 1306

Explanation:

I = ptr

Therefore, the total amount the owner received on January 17, 2001 was

$1295.57 + $10.47 = $1306.04

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

Q:

A subset of the database which contain virtual data that is derived from the database files but is not explicitly stored is called

A) Touple	B) View
C) Relation	D) Key

Answer & Explanation Answer: B) View

Explanation:

A view may be a subset of the database or it may contain virtual data that is derived from the database files but is not explicitly stored .

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Filed Under: Database
Job Role: Database Administration

Q:

In a box, there are 5 black pens, 3 white pens and 4 red pens. In how many ways can 2 black pens, 2 white pens and 2 red pens can be chosen?

A) 180	B) 220
C) 240	D) 160

Answer & Explanation Answer: A) 180

Explanation:

Number of ways of choosing 2 black pens from 5 black pens in $5 C_{2}$ ways.

Number of ways of choosing 2 white pens from 3 white pens in $3 C_{2}$ ways.

Number of ways of choosing 2 red pens from 4 red pens in $4 C_{2}$ ways.

By the Counting Principle, 2 black pens, 2 white pens, and 2 red pens can be chosen in 10 x 3 x 6 =180 ways.

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Filed Under: Permutations and Combinations

Q:

A chartered bank offers a five-year Escalator Guaranteed Investment Certificate.In successive years it pays annual interest rates of 4%, 4.5%, 5%, 5.5%, and 6%, respectively, compounded at the end of each year. The bank also offers regular five-year GICs paying a fixed rate of 5% compounded annually. Calculate and compare the maturity values of $1000 invested in each type of GIC. (Note that 5% is the average of the five successive one-year rates paid on the Escalator GIC.)

A) 1276.28	B) 1234
C) 1278	D) 1256

Answer & Explanation Answer: A) 1276.28

Explanation:

FV = $1000(1.04)(1.045)(1.05)(1.055)(1.06) = $1276.14

the maturity value of the regular GIC is

FV = $ 1000 x ${(1.05)}^{5}$ = $1276.28

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

Q:

Two payments of $10,000 each must be made one year and four years from now. If money can earn 9% compounded monthly, what single payment two years from now would be equivalent to the two scheduled payments?

A) 17296	B) 13296
C) 19296	D) 15296

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