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 Quantitative Aptitude - Arithmetic Ability Questions

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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

 

 

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

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Q:

The true discount on Rs.1600 due to after a certain of 5% per annum is Rs.160. The time after which it is due is

A) 27months B) 23months
C) 20months D) 12months
 
Answer & Explanation Answer: A) 27months

Explanation:

P.W. = Rs. (1600 - 160) = Rs. 1440
∴ S.I. on Rs.1440 at 5% is Rs. 160.
∴ Time = [100 * 160 / 1440 * 5] = 20/9 years = [20/9 * 12] months = 27 months.

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Filed Under: True Discount

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Q:

3 pipes when opened for 3 hours can fill 3 buckets. How many buckets can 2 pipes open for 2 hours approximately fill?

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

Explanation:

2 pipes open for 2 hours will fill = (2/3) x (2/3) x 3 = 4/3 buckets

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Filed Under: Pipes and Cistern

9 3352
Q:

Which of the following relation is CORRECT?

 

I. (√15 + √7) < (2√22)

II. (√17 + √5) < (√20 + √2)

 

A) Only I B) Only II
C) Neither I nor II D) Both I and II
 
Answer & Explanation Answer: A) Only I

Explanation:
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Filed Under: Square Roots and Cube Roots
Exam Prep: Bank Exams

0 3346
Q:

Calculate the future value of $3,000 invested at 7% for 5 years

A) 4207.66 B) 5207
C) 4376 D) 5687
 
Answer & Explanation Answer: A) 4207.66

Explanation:

F=P(1+i)^n

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

2 3344
Q:

Calculate the effective interest rate of a 10% annual rate compounded continuously.

A) 9.52% B) 10.52%
C) 11.52% D) 12.52%
 
Answer & Explanation Answer: B) 10.52%

Explanation:

E=e^i-1

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Filed Under: Compound Interest
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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
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Q:

What should be the maximum value of B in the following equation?
8A9 – 6B2 + 4C6 = 723

A) 4 B) 1
C) 5 D) 7
 
Answer & Explanation Answer: D) 7

Explanation:

   1 1
   8 A 9
+ 4 C 6
-  6 B 2
   7 2 3
We may represent the given sum, as shown below:

1 + A + C - B = 12
A + C - B = 11

Now,giving the maximum values to A and C, i.e.

A = 9 and C = 9, we get B = 7.

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Filed Under: Numbers
Exam Prep: CAT
Job Role: Bank Clerk

5 3340