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Q:

A bag contains 50 tickets numbered 1,2,3,4......50 of which five are drawn at random and arranged in ascending order of magnitude.Find the probability that third drawn ticket is equal to 30.

A) 551/15134	B) 1/2
C) 552/15379	D) 1/9

Answer & Explanation Answer: A) 551/15134

Explanation:

Total number of elementary events = $50 C_{5}$
Given,third ticket =30

=> first and second should come from tickets numbered 1 to 29 = $29 C_{2}$ ways and remaining two in $20 C_{2}$ ways.

Therfore,favourable number of events = $29 C_{2} * 20 C_{2}$

Hence,required probability = $29 C_{2} * 20 C_{2}$ $/ 50 C_{5}$ =551 / 15134

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Filed Under: Probability

Q:

One card is drawn from a pack of 52 cards,each of the 52 cards being equally likely to be drawn.Find the probability that the ball drawn is an ace :

A) 1/13	B) 1/12
C) 1/14	D) 1/15

Answer & Explanation Answer: A) 1/13

Explanation:

Total number of events=52

Number of aces =4

So,required probability = 4/52 =1/13

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Filed Under: Probability

Q:

A man invests some money partly in 9% stock at 96 and partly in 12% stock at 120. To obtain equal dividends from both, he must invest the money in the ratio:

A) 3:5	B) 2:1
C) 16:15	D) 4:5

Answer & Explanation Answer: C) 16:15

Explanation:

For an income of Re. 1 in 9% stock at 96, investment = Rs. 96/9 = Rs.32/3

For an income Re. 1 in 12% stock at 120, investment = Rs. 120/12 = Rs. 10.

Ratio of investments =(32/3) : 10 = 32 : 30 = 16 : 15.

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Filed Under: Stocks and Shares

Q:

Jason decides to borrow money for a holiday. If a personal loan is taken over 4 years with equal quarterly repayments at 12% p.a. flat rate (simple interest), calculate the effective rate of interest.

A) 22,588	B) 32.588
C) 42.588	D) 43.588

Answer & Explanation Answer: A) 22,588

Explanation:

Flat rate = 12%
n = 4 × 4
= 16

Effective rate =2n/(n+1) × flat rate

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

Q:

Car is purchased on hire-purchase. The cash price is $21 000 and the terms are a deposit of 10% of the price, then the balance to be paid off over 60 equal monthly instalments. Interest is charged at 12% p.a. What is the total cost of the car?

A) 30.240	B) 31.240
C) 33.240	D) 32,240

Answer & Explanation Answer: D) 32,240

Explanation:

Total cost = deposit + instalment amount × number of instalments

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

Q:

A car is purchased on hire-purchase. The cash price is $21 000 and the terms are a deposit of 10% of the price, then the balance to be paid off over 60 equal monthly instalments. Interest is charged at 12% p.a. What is the monthly instalment?

A) $503	B) $504
C) $505	D) %506

Answer & Explanation Answer: B) $504

Explanation:

Cash price = $21 000

Deposit = 10% × $21 000 = $2100

Loan amount = $21000 − $2100 = $18900

I=p x r x t/100

I=11340

Total amount = 18900 + 11340 = $30240

Regular payment = total amount /number of payments

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

Q:

A sapphire ring with a marked price of $1800 is offered to the purchaser on the following terms: $200 deposit and the balance to be paid over 24 equal monthly instalments with interest charged at 11.5% p.a. flat rate. Find the monthly repayments

A) $53	B) $42
C) $62	D) $82

Answer & Explanation Answer: D) $82

Explanation:

Total repayment amount = $1600 + $368
= $1968
= $82

regular payment= total amount/number of repayments

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

Q:

Rs. 5887 is divided between Shyam and Ram, such that Shyam's share at the end of 9 years is equal to Ram's share at the end of 11 years, compounded annually at the rate of 5%. Find the share of Shyam.

A) 3567	B) 3452
C) 3087	D) 3544

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