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Q:

A sum of Rs.1550 was lent partly at 8% p.a. simple interest. The total interest received after 3 years was Rs.300. The ratio of the money lent at 5% to that lent at 8% is :

A) 5:8	B) 6:7
C) 16:15	D) 17:18

Answer & Explanation Answer: C) 16:15

Explanation:

let the sum lent at 5% be Rs.x and that lent at 8% be Rs.(1550-x). then,

Interest on x at 5% for 3 years + interest on (1550-x) at 8% for 3 years = 300

$\frac{x * 5 * 3}{100} + \frac{(1500 - x) * 8 * 3}{100} = 300$

x=800

Required ratio = x : (1550-x) = 800 : (1550-800) = 800 : 750 = 16 : 15

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

Q:

In a box, there are 8 red, 7 blue and 6 green balls. One ball is picked up randomly. What is the probability that it is neither red nor green?

A) 1/3	B) 3/5
C) 8/21	D) 7/21

Answer & Explanation Answer: A) 1/3

Explanation:

Total number of balls = (8 + 7 + 6) = 21.

Let E = event that the ball drawn is neither red nor green

= event that the ball drawn is blue.

n(E) = 7.

P(E) = n(E)/n(S) = 7/21 = 1/3.

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Filed Under: Probability

Q:

A sum of money becomes 7/6 of itself in 3 years at a certain rate of simple interst. The rate per annum

A) 5%	B) 5.5%
C) 6%	D) 6.5%

Answer & Explanation Answer: B) 5.5%

Explanation:

sum = x. amount =7x/6.

S.I. =(7x/6 – x) = x/6 ; time = 3 years

Rate =[ (100 * x) / (x * 6 * 3)]% = 5.5%

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Filed Under: Quantitative Aptitude - Arithmetic Ability
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

Tickets numbered 1 to 20 are mixed up and then a ticket is drawn at random. What is the probability that the ticket drawn has a number which is a multiple of 3 or 5?

A) 1/2	B) 3/5
C) 9/20	D) 8/15

Answer & Explanation Answer: C) 9/20

Explanation:

Here, S = {1, 2, 3, 4, ...., 19, 20}.

Let E = event of getting a multiple of 3 or 5 = {3, 6 , 9, 12, 15, 18, 5, 10, 20}.

P(E) = n(E)/n(S) = 9/20.

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Filed Under: Probability

Q:

If a sum of money at simple interest doubles in 6 years, it will become 4 times in

A) 15years	B) 16years
C) 17years	D) 18years

Answer & Explanation Answer: D) 18years

Explanation:

let sum =x . s.i.=x

rate =(100*x)/(x*6)=50/3%

now ,sum =x, s.i= 3x, rate =50/3%

time =(100*3x)/(x*50/3) = 18 years

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Filed Under: Quantitative Aptitude - Arithmetic Ability
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

The true discount on Rs. 2562 due 4 months hence is Rs. 122. The rate percent is?

A) 12%	B) 13%
C) 15%	D) 14%

Answer & Explanation Answer: C) 15%

Explanation:

P.W = 2562-122 =Rs.2440

Rate = [100 x 122] / [2440 x (1/3)] =15%

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Filed Under: True Discount

Q:

What is the compound interest earned at the end of 3 years?

I. Simple interest earned on that amount at the same rate and for the same period is Rs. 4500.

II.The rate of interest is 10 p.c.p.a.

III.Compound interest for 3 years is more than the simple interest for that period by Rs.465.

A) I and II only	B) II and III only
C) I and III only	D) Either II or III only

Answer & Explanation Answer: D) Either II or III only

Explanation:

I. gives, S.I for 3 years = Rs. 4500.

II. gives, Rate = 10% p.a.

III. gives, (C.I.) - (S.I.) = Rs. 465.

Clearly, using I and III we get C.I. = Rs. (465 + 4500).

Thus, II is redundant.

Also, from I and II, we get sum =

100 x 4500

= 15000.

10 x 3

Now C.I. on Rs. 15000 at 10% p.a. for 3 years may be obtained.

Thus, III is redundant.

Either II or III is redundant.

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Filed Under: Quantitative Aptitude - Arithmetic Ability
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

Mr. Gupta borrowed a sum of money on compound interest. What will be the amount to be repaid if he is repaying the entire amount at the end of 2 years?

I. The rate of interest is 5 p.c.p.a.

II. Simple interest fetched on the same amount in one year is Rs. 600.

III. The amount borrowed is 10 times the simple interest in 2 years.

A) I only	B) III only
C) I or II only	D) .II and Either I or III only

Answer & Explanation Answer: D) .II and Either I or III only

Explanation:

I. gives, Rate = 5% p.a.

II. gives, S.I. for 1 year = Rs. 600.

III. gives, sum = 10 x (S.I. for 2 years).

Now I, and II give the sum.

For this sum, C.I. and hence amount can be obtained.

Thus, III is redundant.

Again, II gives S.I. for 2 years = Rs. (600 x 2) = Rs. 1200.

Now, from III, Sum = Rs. (10 x 1200) = Rs . 12000.

Thus, Rate =

100 x 1200

= 5% p.a.

2 x 12000

Thus, C.I. for 2 years and therefore, amount can be obtained.

Thus, I is redundant.

Hence, I or III redundant.

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Filed Under: Quantitative Aptitude - Arithmetic Ability
Exam Prep: Bank Exams
Job Role: Bank PO

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