Quantitative Aptitude - Arithmetic Ability Questions

Q:

A merchant receives an invoice for a motor boat for $20 000 with terms 4/30, n/100. What is the highest simple interest rate at which he can afford to borrow money in order to take advantage of the discount?

A) 247.67 B) 237.67
C) 227.67 D) 215.67
 
Answer & Explanation Answer: A) 247.67

Explanation:

Suppose the merchant will take advantage of the cash discount of 4% of $20 000 = $800 by paying the bill within 30 days from the date of invoice. He needs to borrow $20 000 = $800 = $19 200. He would borrow this money on day 30 and repay it on day 100 (the day the original invoice is due) resulting in a 70-day loan. The interest he should be willing to pay on borrowed money should not exceed the cash discount $800.

 

r=I/pt=21.73%

 

The highest simple interest rate at which the merchant can afford to borrow money is 21.73%. This is a break-even rate. If he can borrow money, say at a rate of 15%, he should do so. He would borrow $19 200 for 70 days at 15%. Maturity value of the loan is $19 200(1+0.15(70/365))=$19 752.33

 

savings would be $20 000 − $19 752.33 = $247.67

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Filed Under: Simple Interest
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Q:

A, B and C start at the same time in the same direction to run around a circular stadium. A completes a round in 252 seconds, B in 308 seconds and c in 198 seconds, all starting at the same point. After what time will they again at the starting point ?

A) 26 minutes and 18 seconds B) 42 minutes and 36 seconds
C) 45 minutes D) 46 minutes and 12 seconds
 
Answer & Explanation Answer: D) 46 minutes and 12 seconds

Explanation:

L.C.M. of 252, 308 and 198 = 2772.

 

So, A, B and C will again meet at the starting point in 2772 sec. i.e., 46 min. 12 sec.

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Q:

If L exceeds K by 30%, then K is less than L by ?

A) 14 2/5 % B) 23 1/3 %
C) 20 % D) 16 %
 
Answer & Explanation Answer: B) 23 1/3 %

Explanation:

K = 100 L = 130
130------ 30
100------- ? => 23 1/13 %

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Filed Under: Percentage
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Q:

Train K crosses a pole in 30 seconds and train L crosses the same pole in one minute and 20 seconds. The length of train K is three-fourths the length of train L. What is the ratio of the speed of train K to that of train L   ?

A) 1 : 3 B) 2 : 1
C) 3 : 1 D) 1 : 2
 
Answer & Explanation Answer: B) 2 : 1

Explanation:

Given that train K crosses a pole in 30 seconds and train L crosses the same pole in one minute and 15 seconds.

Let the length of train K be Lk and that of train L be Ll

given that Lk = 3/4 Ll

As the train K and L crosses the pole in 30 seconds and 80 seconds respectively,
=> Speed of train K = sk = Lk/30

Speed of train L = sl = Ll/80

Lk = 3/4 Ll
=> sk = 3/4 Ll/(30) = Ll/40

Ratio of their speeds = sk : sl
= Ll/40 : Ll/80

=> 1/40 : 1/80  =  2 : 1

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Filed Under: Problems on Trains
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Q:

Find the number of ways to draw a straight, (suit does not matter) beginning with a 4 and ending with a 8?

A) 1024 B) 1296
C) 1094 D) 1200
 
Answer & Explanation Answer: A) 1024

Explanation:

There are 5 slots.

 

                   __ __ __ __ __

 

The first slot must be a four. There are 4 ways to put a four in the first slot.

 

There are 4 ways to put a five in the second slot, and there are 4 ways to put a six in the third slot. etc.

 

(4)(4)(4)(4)(4) = 1024

 

Therefore there are 1024 different ways to produce the desired hand of cards.

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Q:

Lasya alone can do a work in 16 days. Srimukhi’s efficiency is 20 % lesser than that of Laya. If Rashmi and Srimukhi together can do the same work in 12 days, then find the efficiency ratio of Rashmi to that of Lasya?

A) 19 : 7 B) 30 : 19
C) 8 : 15 D) 31 : 17
 
Answer & Explanation Answer: C) 8 : 15

Explanation:

Given Lasya can do a work in 16 days.

 

Now, time taken by Srimukhi alone to complete the work = 16 x 100/80

 

Time taken by Rashmi = n days

 

=> (12 x 20)/(20 - 12) = (12 x 20)/n

 

=> n= 30 days.

 

Required ratio of efficiencies of Rashmi and Lasya = 1/30  ::  1/16  = 8 : 15.

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Filed Under: Time and Work
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Q:

Althaf borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12% ?

A) Rs. 300 B) Rs. 400
C) Rs. 1200 D) Rs. 1100
 
Answer & Explanation Answer: C) Rs. 1200

Explanation:

Let Althaf lent Rs. A at 14% per year.
Hence, Money lent at 12% = (1500-A);
Given, total interest = Rs. 186.
{(A x 14x 1)/100} + {[(1500-A) x 12 x 1/100]} = 186;
14A/100 + (18000 -12A)/100 = 186;
14A + 18000 - 12A = 186x100;
2A = 18600-18000;
A = 600/2 = Rs. 300.
Hence, money lent at 12% = 1500-300 = Rs. 1200.

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Filed Under: Simple Interest
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Q:

Selling price of a cellphone is increased by 20%. For this sale is decreased by 30%. Find the effect of total sales?

A) 16% B) 14.5%
C) 12% D) 10.5%
 
Answer & Explanation Answer: A) 16%

Explanation:

Let cost of each cell phone = Rs.100 & Sale = 100 phones.

Money receipt = Rs.(100 x 100) = Rs.10,000

New cost per cellphone = Rs.120 and New sale = 70 phones

New Money Receipt = Rs.(70 x 120) = Rs.8400

Then the effect of sales = decrease in money receipt = 

160010000 x 100 = 16%.

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Filed Under: Profit and Loss
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