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Q:

The population of a rural region is expected to fall by 2% per year for the next 10 years. If the region’s current population is 100,000, what is the expected population 10 years from now?

A) 81707	B) 91707
C) 61707	D) 71707

Answer & Explanation Answer: A) 81707

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:

12 points lie on a circle. How many cyclic quadrilaterals can be drawn by using these points?

A) 500	B) 490
C) 495	D) 540

Answer & Explanation Answer: C) 495

Explanation:

For any set of 4 points we get a cyclic quadrilateral. Number of ways of choosing 4 points out of 12 points is $12 C_{4}$ = 495.

Therefore, we can draw 495 quadrilaterals

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Filed Under: Permutations and Combinations

Q:

Kramer borrowed $4000 from George at an interest rate of 7% compounded semiannually. The loan is to be repaid by three payments. The first payment, $1000, is due two years after the date of the loan. The second and third payments are due three and five years, respectively, after the initial loan. Calculate the amounts of the second and third payments if the second payment is to be twice the size of the third payment.

A) 1389	B) 1359
C) 1379	D) 1339.33

Answer & Explanation Answer: D) 1339.33

Explanation:

Given:j=7% compounded semiannually making m=2 and i = j/m= 7%/2 = 3.5%
Let x represent the third payment. Then the second payment must be 2x.
PV1,PV2, andPV3 represent the present values of the first, second, and third payments.

Since the sum of the present values of all payments equals the original loan, then
PV1 + PV2 +PV3 =$4000 -------(1)

PV1 =FV/(1 + i)^n =$1000/(1.035)^4= $871.44

At first, we may be stumped as to how to proceed for
PV2 and PV3. Let’s think about the third payment of x dollars. We can compute the present value of just $1 from the x dollars

pv=1/(1.035)^10=0.7089188

PV2 =2x * 0.7089188 = 1.6270013x
PV3 =x * 0.7089188=0.7089188x
Now substitute these values into equation ➀ and solve for x.
$871.442 + 1.6270013x + 0.7089188x =$4000

2.3359201x =$3128.558

x=$1339.326
Kramer’s second payment will be 2($1339.326) =$2678.65, and the third payment will be $1339.33

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

Q:

Suppose you can travel from a place A to a place B by 3 buses, from place B to place C by 4 buses, from place C to place D by 2 buses and from place D to place E by 3 buses. In how many ways can you travel ?from A to E?

A) 36	B) 64
C) 74	D) 72

Answer & Explanation Answer: D) 72

Explanation:

The bus fromA to B can be selected in 3 ways.

The bus from B to C can be selected in 4 ways.

The bus from C toD can be selected in 2 ways.

The bus fromD to E can be selected in 3 ways.

So, by the General Counting Principle, one can travel fromA to E in 3 x 4 x 2 x 3 ways = 72

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Filed Under: Permutations and Combinations

Q:

Discovery of the nucleus of an atom was due to the experiment carried out by

A) Bohr	B) Rutherford
C) Moseley	D) Thomson

Answer & Explanation Answer: B) Rutherford

Explanation:

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Filed Under: Chemistry

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:

A bill falls due in 1 year.The creditor agrees to accept immediate payment of the half and to defer the payment of the other half for 2 years.By this arrangement ins Rs.40.what is the amount of the bill,if he money be worth 12.5%?

A) 1200	B) 3000
C) 3600	D) 1300

Answer & Explanation Answer: C) 3600

Explanation:

Let the sum be Rs. x. Then,

$[\frac{x}{2} + \frac{\frac{x}{2} \times 100}{100 + (\frac{25}{2} \times 2)}] - \frac{x \times 100}{100 + (\frac{25}{2} \times 1)} = 40$

(x/2)+(2x/5)-(8x/9) = 40

x=3600.

Therfore, amount of bill=Rs. 3600.

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Filed Under: True Discount

Q:

A number is selected at random from the numbers 1 to 30. What is the probability that it is divisible by either 3 or 7 ?

A) 1/30	B) 2/30
C) 1/25	D) 1/2

Answer & Explanation Answer: A) 1/30

Explanation:

Let A be event of selecting a number divisible by 3. B be the event of selecting a number divisible by 7.

A = { 3, 6, 9, 12, 15, 18, 21, 24, 27, 30 }, so n(A)=10
B = { 7, 14, 21, 28 }, n(B)= 4

Since A and B are not mutually exclusive So :

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Filed Under: Probability

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