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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:

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
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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
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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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Exam Prep: Bank Exams
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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

Q:

A card is drawn from a pack of 52 cards. The probability of getting a queen of club or a

king of heart is:

A) 2/13	B) 1/13
C) 1/26	D) 1/52

Answer & Explanation Answer: C) 1/26

Explanation:

Here, n(S) = 52.

Let E = event of getting a queen of club or a king of heart.

Then, n(E) = 2.

P(E) =n(E)/n(S)=2/52=1/26.

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Filed Under: Probability

Q:

In a 200 metres race A beats B by 35 m or 7 seconds. A's time over the course is:

A) 40 sec	B) 47sec
C) 33sec	D) none of these

Answer & Explanation Answer: C) 33sec

Explanation:

B runs 35 m in 7 sec.

B covers 200 m in (7/35*200) = 40 sec.

B's time over the course = 40 sec.

A's time over the course (40 - 7) sec = 33 sec.

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Q:

Two dice are tossed. The probability that the total score is a prime number is:

A) 5/12	B) 1/6
C) 1/2	D) 7/9

Answer & Explanation Answer: A) 5/12

Explanation:

Clearly, n(S) = (6 x 6) = 36.

Let E = Event that the sum is a prime number.

Then E= { (1, 1), (1, 2), (1, 4), (1, 6), (2, 1), (2, 3), (2, 5), (3, 2), (3, 4), (4, 1), (4,3),(5, 2), (5, 6), (6, 1), (6, 5) }

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