Quantitative Aptitude - Arithmetic Ability Questions

Q:

You put $750 into a certificate of deposit. Your simple annual interest rate is 4%. You receive a check for the interest at the end of each year. How long will it take to earn $150 in interest?

A) 5years B) 6years
C) 7years D) 8years
 
Answer & Explanation Answer: A) 5years

Explanation:

I=prt

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Filed Under: Simple Interest
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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
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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

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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

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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
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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:

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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Q:

Find the annual interest rate that produces $100,000 from $20,000 in 15 years.

A) 9.33% B) 10.33%
C) 11.33% D) 12.33%
 
Answer & Explanation Answer: C) 11.33%

Explanation:

l=(F/P)^1/n-1

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Filed Under: Compound Interest
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