Sawaal
  • Home/
  • Searching for %

 Searching for "%"

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

Report Error

View Answer Report Error Discuss

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

Report Error

View Answer Report Error Discuss

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

Report Error

View Answer Report Error Discuss

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

Q:

The periodic interest rate corresponding to: 9.75% compounded semiannually

A) 4.875 B) 3.785
C) 4.865 D) 4.975
 
Answer & Explanation Answer: A) 4.875

Explanation:

i=j/m

Report Error

View Answer Report Error Discuss

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

Q:

A loan is made for $4800 with an APR of 12% and payments made monthly for 24 months. What is the payment amount? What is the finance charge?

A) 622.80 B) 522.80
C) 322.80 D) 632.80
 
Answer & Explanation Answer: A) 622.80

Explanation:

{\color{Blue} A=R\left [(1+i)^{n-1} \right ]/i ( 1+i )^{n}}

 

Report Error

View Answer Report Error Discuss

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

Q:

A loan is made for $3500 with an interest rate of 9% and payments made annually for 4 years. What is the payment amount?

A) 8906 B) 1089
C) 1070 D) 1080.34
 
Answer & Explanation Answer: D) 1080.34

Explanation:

 

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

 

 

Report Error

View Answer Report Error Discuss

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

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

Report Error

View Answer Report Error Discuss

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

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]

Report Error

View Answer Report Error Discuss

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