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Q:

If an investment can earn 4% compounded monthly, what amount must you invest now in order to accumulate $10,000 after 3 years?

A) 8695.61	B) 6786
C) 3478	D) 4092

Answer & Explanation Answer: A) 8695.61

Explanation:

i=j/m

PV = FV (1+ i)^-n

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

Q:

Other things being equal, would an investor prefer an interest rate of 10.5% compounded monthly or 11% compounded annually for a two-year investment?

A) 1232	B) 1243
C) 1254	D) 1262

Answer & Explanation Answer: A) 1232

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:

Who is the author of the book "The Judgement"?

A) Kuldip Nayar	B) Mathili Saran Gupta
C) Amitabh Ghosh	D) None

Answer & Explanation Answer: A) Kuldip Nayar

Explanation:

Kuldip Nayar is the author of "The Judgement"

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Filed Under: Books and Authors

Q:

Divide Rs. 1301 between A and B, so that the amount of A after 7 years is equal to the amount of B after 9 years, the interest being compounded at 4% per annum.

A) Rs.625	B) Rs.626
C) Rs.286	D) Rs.627

Answer & Explanation Answer: A) Rs.625

Explanation:

Let the two parts be Rs. x and Rs. (1301 - x).

$x {(1 + \frac{4}{100})}^{7} = (1301 - x) {(1 + \frac{4}{100})}^{9}$

$\frac{x}{(1301 - x)} = {(1 + \frac{4}{100})}^{2} = (\frac{26}{25} * \frac{25}{26})$

=> 625x=676(1301-x)

1301x=676 x 1301x=676.
So,the parts are rs.676 and rs.(1301-676)i.e rs.676 and rs.625

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Filed Under: Compound Interest
Exam Prep: Bank Exams
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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:

Golf player Vijay Singh belongs to which country?

A) USA	B) Fiji
C) India	D) UK

Answer & Explanation Answer: B) Fiji

Explanation:

Golf player Vijay Singh is an Indo-Fijian belongs to Fiji. He was born in 1963, who was number 1 in the Official World Golf Ranking for 32 weeks in 2004 and 2005.

Golf_player_Vijay_Singh_belongs_to_which_country1542256229.jpg image

He was nicknamed as "The Big Fijian", has won three major Golf Championships. He has started his profession career from 1984.

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Filed Under: General Awareness
Exam Prep: CAT , Bank Exams , AIEEE
Job Role: Bank PO , Bank Clerk , Analyst

Q:

Find the finance charge for an average daily balance of $8431.10 with monthly interest rate of 1.4%

A) 98.04	B) 88.04
C) 68.04	D) 118.04

Answer & Explanation Answer: D) 118.04

Explanation:

0.014*8431.10

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Q:

A retirement benefit of $12,000 is to be paid every 6 months for 25 years at interest rate of 7% compounded semi-annually. Find

(a) the present value to fund the end-of-period retirement benefit.

(b) the end-of-period semi-annual payment needed to accumulate the value in part (a) assuming regular investments for 30 years in an account yielding 8% compounded semi-annually

A) 245678	B) 234689
C) 281468.06	D) 234578

Answer & Explanation Answer: C) 281468.06

Explanation:

R=S[i/(1+i)^n-1]

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Filed Under: Compound Interest
Exam Prep: Bank Exams
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