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 Quantitative Aptitude - Arithmetic Ability Questions

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Q:

You deposit $600 into a 6 month certificate of deposit. After 6 months the balance is $618. Find the simple annual interest rate.

A) 5% B) 4%
C) 6% D) 7%
 
Answer & Explanation Answer: C) 6%

Explanation:

I=prt

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Filed Under: Simple Interest
Exam Prep: Bank Exams
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Q:

Tushar takes 6 hours to complete a piece of work, while Amar completes the same work in 10 hours. If both of them work together, then what is the time required to complete the work?

 

A)  3 hours B) 3 hours 15 minutes
C) 3 hours 30 minutes D) 3 hours 45 minutes
 
Answer & Explanation Answer: D) 3 hours 45 minutes

Explanation:

Let them take x hours working together

1/x = 1/10 + 1/6 = 8/30

X= 30/8 hours = 15/4 hours = 3 hours 45 minutes

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Filed Under: Time and Work
Exam Prep: Bank Exams

1 3240
Q:

Advik's birthday is on Monday 19th June. On what day of the week will be Nishith's Birthday in the same year if Nishith was born on 17th November?

A) Saturday B) Wednesday
C) Friday D) Sunday
 
Answer & Explanation Answer: C) Friday

Explanation:
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Filed Under: Calendar
Exam Prep: Bank Exams

8 3235
Q:

An amount of 5,000 is invested at a fixed rate of 8 per cent per annum. What amount will be the value of the investment in five years time, if the interest is compounded annually

A) 7346.64 B) 8346
C) 3456 D) 4567
 
Answer & Explanation Answer: A) 7346.64

Explanation:

The only part of this type of calculation that needs particular
care is that concerning the interest rate. The formula assumes that
r is a proportion, and so, in this case:
r = 0.08
In addition, we have P = 5,000 and n = 5, so:
V = P(1 + r)5 = 5,000 x (1 + 0.08)5 = 5,000 x 1.469328 = 7,346.64
Thus the value of the investment will be 7,346.64

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Filed Under: Compound Interest
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0 3233
Q:

When a number is divided by 138 the remainder is 26. What will be the remainder if the same number is divided by 23 ?

A) 4 B) 6
C) 3 D) 1
 
Answer & Explanation Answer: C) 3

Explanation:

Number = quotient x divisor + remainder;
so, here
number = 138 k + 26
=> (23 x 6k) + (23+3)
=> 23(6k+1)+3
so, remainder is 3.

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Filed Under: Numbers
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4 3230
Q:

For a nominal interest rate of 8.4%, what is the compounding frequency if the periodic interest rate is 4.2

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

Explanation:

i=j/m

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Filed Under: Compound Interest
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0 3228
Q:

Raghu bought an article for Rs. 14,360 and spent Rs. 240 on its transportation. At what amount he has to sell it to get a profit of 15%? (in Rs.)

A) ₹ 16,000 B) ₹ 16,790
C) ₹ 16,150 D) ₹ 16.500
 
Answer & Explanation Answer: B) ₹ 16,790

Explanation:
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Filed Under: Profit and Loss
Exam Prep: Bank Exams

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Q:

A bottle is sold at a loss of 9%. Had it sold for Rs. 15 more, a profit of 25/2% would have gained. What is the cost price of the bottle (approx)?

A) Rs. 32 B) Rs. 35
C) Rs. 36 D) Rs. 33
 
Answer & Explanation Answer: B) Rs. 35

Explanation:

Let the cost price of the bottle = Rs. 100

Selling price of the bottle = Rs. 100 - Rs. 9 = Rs. 91

Then, from the given data,

=> 112 (1/2) - 91 = 15

=> 21 (1/2) = 15

=> 43 = 15

Then 100 = ?

1500/43 = 34.885 =~ 35

Hence, the cost price of the bottle = Rs. 35

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Filed Under: Profit and Loss
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