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Q:

Find compound interest on Rs. 8000 at 15% per annum for 2 years 4 months, compounded annually

A) 2109 B) 3109
C) 4109 D) 6109
 
Answer & Explanation Answer: B) 3109

Explanation:

Time = 2 years 4 months = 2(4/12) years = 2(1/3) years.
Amount = Rs'. [8000 X (1+(15/100))^2 X (1+((1/3)*15)/100)]
=Rs. [8000 * (23/20) * (23/20) * (21/20)]
= Rs. 11109. .
:. C.I. = Rs. (11109 - 8000) = Rs. 3109.

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

Q:

Find compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually.

A) 612 B) 712
C) 812 D) 912
 
Answer & Explanation Answer: A) 612

Explanation:

Amount = Rs [7500*(1+(4/100)2] = Rs (7500 * (26/25) * (26/25) ) = Rs. 8112.
therefore, C.I. = Rs. (8112 - 7500) = Rs. 612.

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

Q:

Some envelops are gums. Some gums are seals. Some seals are adhesives.

Conclusions:

1. Some envelops are seals

2. Some gums are adhesives

3. Some adhesives are seals

4. Some adhesives are gums

A) Only 3 B) Only 1
C) Only 2 D) Only 4
 
Answer & Explanation Answer: A) Only 3

Explanation:
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Filed Under: Statement and Conclusions
Exam Prep: GRE

Q:

Some boys are men. No man is black

Conclusions:

1. Some boys are not black

2. Some men are boys

A) Only 1 follows B) Only 2 follows
C) Either 1 or 2 follows D) Neither 1 nor 2 follows
 
Answer & Explanation Answer: A) Only 1 follows

Explanation:

Since one premise is negative , the conclusion must be negative. so 2 does not follow and only 1 follows

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Filed Under: Statement and Conclusions
Exam Prep: GRE

Q:

Determine the nominal rate of interest if:

The periodic rate is 0.83% per month

A) 7% B) 8%
C) 9% D) 10%
 
Answer & Explanation Answer: D) 10%

Explanation:

j=mi

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

Q:

Determine the nominal rate of interest if:
The periodic rate is 1.75% per quarter.

A) 7% B) 8%
C) 9% D) 10%
 
Answer & Explanation Answer: A) 7%

Explanation:

j=mi

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

Q:

For a nominal interest rate of 8.4%, what is the compounding frequency if the periodic interest rate is:0.7

A) 9 B) 10
C) 11 D) 12
 
Answer & Explanation Answer: D) 12

Explanation:

i=j/m

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

Q:

Three unbiased coins are tossed.What is the probability of getting at least 2 heads?

A) 1/4 B) 1/2
C) 3/4 D) 1/3
 
Answer & Explanation Answer: B) 1/2

Explanation:

Here S= {TTT, TTH, THT, HTT, THH, HTH, HHT, HHH}.

Let E = event of getting at least two heads = {THH, HTH, HHT, HHH}.

P(E) = n(E) / n(S)

      = 4/8= 1/2

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Filed Under: Probability