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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

Q:

For a nominal interest rate of 8.4%, what is the compounding frequency if the periodic interest rate is:2.1

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

Explanation:

i=j/m

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

Q:

If a cellphone is purchased for Rs.490 and sold for Rs.465.50 find the loss percentage?

A) 10 B) 5
C) 20 D) 15
 
Answer & Explanation Answer: B) 5

Explanation:

loss = C.P - S.P = 490 - 465.50 =24.50 

loss % = (loss x 100)/C.P = (24.50 x 100)/490 = 5%

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Filed Under: True Discount

Q:

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

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

Explanation:

m=j/i

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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 4.2

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

Explanation:

i=j/m

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

Q:

Calculate the periodic interest rate corresponding to 9.5% compounded monthly

A) 0.7916 B) 0.8916
C) 0.9916 D) 0.6916
 
Answer & Explanation Answer: A) 0.7916

Explanation:

i=j/m

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

Q:

The profit earned by selling an article for Rs 900 is double the loss incurred when the same article is sold for Rs.490. At what price should the article be sold to make 25% profit?

A) 715 B) 469
C) 400 D) 750
 
Answer & Explanation Answer: D) 750

Explanation:

Let C.P be Rs. x 

900 - x = 2(x - 450)     => x = Rs.600   

 

C.P = 600 gain required is 25% 

S.P = [(100+25) x 600] / 100 = Rs.750

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Filed Under: True Discount

Q:

Calculate the periodic interest rate corresponding to:9.0% compounded quarterly

A) 3.45 B) 2.25
C) 5.25 D) 6.25
 
Answer & Explanation Answer: B) 2.25

Explanation:

i=j/m

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