Searching for "Six"

Q:

An amount of 5,000 is invested at a fixed rate of 8 per cent per annum. What amount will be the value of the investment in five years time, if the interest is compounded every six months?

A) 7401.22 B) 3456
C) 4567 D) 7890
 
Answer & Explanation Answer: A) 7401.22

Explanation:

With slight modifications, the basic formula can be made to deal with compounding at intervals other than annually.

 

Since the compounding is done at six-monthly intervals, 4 per cent (half of 8 per cent) will be added to the value on each occasion.

 

Hence we use r = 0.04. Further, there will be ten additions of interest during the five years, and so n = 10. The formula now gives:

 

V = P(1 + r)10 = 5,000 x (1.04)10 = 7,401.22

 

Thus the value in this instance will be £7,401.22.

 

In a case such as this, the 8 per cent is called a nominal annual

 

rate, and we are actually referring to 4 per cent per six months.

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

Q:

An automobile financier claims to be lending money at simple interest, but he includesthe interest every six months for calculating the principal. If he is charging an interest of10%, the effective rate of interest becomes:

A) 10% B) 10.25%
C) 10.5% D) none of these
 
Answer & Explanation Answer: B) 10.25%

Explanation:

Let the sum be Rs. 100. Then,

S.I. for first 6 months = Rs.[ (100 x 10 x 1)/(100 x 2) ]= Rs.5

S.I. for last 6 months =Rs.[(102 x 10 x 1)/(100 x 2) ] = Rs.5.25

So, amount at the end of 1 year = Rs. (100 + 5 + 5.25) = Rs. 110.25

Effective rate = (110.25 - 100) = 10.25%

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Filed Under: Simple Interest
Exam Prep: GRE

Q:

The average of six numbers is x and the average of three of these is y. If the average of the remaining three is z, then :

A) x = y + z B) 2x = y + z
C) 3x = 2y - 2z D) none of these
 
Answer & Explanation Answer: B) 2x = y + z

Explanation:

Clearly, we  have : x = (3y + 3z ) / 6 or 2x = y + z.

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Filed Under: Average

Q:

The average of 11 numbers is 10.9. If the average of the first six numbers is 10.5 and that of the last six numbers is 11.4, then the middle number is :

A) 10.5 B) 11.5
C) 12.5 D) 13.5
 
Answer & Explanation Answer: B) 11.5

Explanation:

Middle numbers  =  [(10.5 x 6 + 11.4 x 6) - 10.9 x 11] = (131.4 - 119-9) = 11.5.

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Filed Under: Average

Q:

A grocer has a sale of Rs 6435, Rs. 6927, Rs. 6855, Rs. 7230 and Rs. 6562 for 5 consecutive months. How much sale must he have in the sixth month so that he gets an average sale of Rs, 6500 ?

A) 4991 B) 5467
C) 5987 D) 6453
 
Answer & Explanation Answer: A) 4991

Explanation:

 Total sale for 5 months = Rs. (6435 + 6927 + 6855 + 7230 + 6562) = Rs. 34009.

 Required sale = Rs.[(6500 x 6) - 34009]

= Rs. (39000 - 34009) 

= Rs.  4991.

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Filed Under: Average

Q:

The average of six numbers is 3.95. The average of two of them is 3.4, while the average of the other two is 3.85. What is the average of the remaining two numbers ?

A) 3.6 B) 4.6
C) 6.5 D) 7.3
 
Answer & Explanation Answer: B) 4.6

Explanation:

 Sum of the remaining two numbers = (3.95 * 6) - [(3.4 * 2) + (3.85 * 2)]

                                                   = 23.70 - (6.8 + 7.7) = 23.70 - 14.5 = 9.20.

Required average = (9.2 / 2) =  4.6.

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Filed Under: Average

Q:

In which year was Sanjay born ? 

I. Sanjay is six years older than Gopal.

II. Gopal's brother was born in 1982.

III. Sanjay's brother as two years younger than Gopal's brother who was eight years younger than Gopal. 

A) I and II together B) II and III together
C) I and III together D) I, II and III together
 
Answer & Explanation Answer: D) I, II and III together

Explanation:

From II, we know that Copal's brother was born in 1982. From III, we find that Gopal's brother was 8 years younger to him i.e. Copal was born in 1974. From I, we find that Sanjay is 6 years older than Gopal Thus. Sanjay was born in 1968. So. all the three statements are required. 

 

 

 

 

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Filed Under: Data Sufficiency

Q:

A batsman scored 120 runs which included 3 boundaries and 8 sixes. What percent of his total score did he make by running between the wickets ?

A) 40% B) 45%
C) 50% D) 55%
 
Answer & Explanation Answer: C) 50%

Explanation:

Number of runs made by running = 120 - (3 x 4 + 8 x 6) = 120 - (60) = 60 

Required percentage = [(60/120)*100] % = 50%

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Filed Under: Percentage