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Q:

A man invests Rs.5000 for 3 years at 5% p.a. compound interest reckoned yearly. Income tax at the rate of 20% on the interest earned is deducted at the end of each year. Find the amount at the end of the third year

A) Rs.5624.32 B) Rs.5423
C) Rs.5634 D) Rs.5976
 
Answer & Explanation Answer: A) Rs.5624.32

Explanation:

 

 

 

5% is the rate of interest. 20% of the interest amount is paid as tax.

 

i.e  80% of the interest amount stays back.

 

 if we compute the rate of interest as 80% of 5% = 4% p.a., we will get the same value.

  

The interest accrued for 3 years in compound interest = 3 x simple interest on principal + 3 x interest on simple interest + 1 x interest on interest on interest.

 

= 3 x (200) + 3 x (8) + 1 x 0.32 =600 + 24 + 0.32 = 624.32

 

 

 

The amount at the end of 3 years = 5000 + 624.32 = 5624.32

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

26 24276
Q:

What is a Non-PO Invoice?

Answer

A non-po is an invoice which does not have po(purchase order).However, these invoices requires approval for authorized person/persons to process for payment.


What_is_a_Non-PO_Invoice1558075538.jpg image

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Subject: Accounts Payable Exam Prep: Bank Exams
Job Role: Bank Clerk , Bank PO

47 24259
Q:

Which number will complete the series?

63, 72, 81, 90, ____, 108

A) 80 B) 99
C) 100 D) 117
 
Answer & Explanation Answer: B) 99

Explanation:
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Filed Under: Number Series
Exam Prep: Bank Exams

2 24226
Q:

Consider the following grouped frequency distribution:

  x           f

0-10       8

10-20     12

20-30     10

30-40      p

40-50      9

 

If the mean of the above data is 25.2, then what is the value of p?

 

A) 9 B) 10
C) 11 D) 12
 
Answer & Explanation Answer: C) 11

Explanation:
Mean = (sum of fixi/ (sum of f) = (8*5 + 12*15 + 10*25 + P*35 +9*45) / (8+12+10+P+9) = 25.2
(875 + 35P)/(39+P) = 25.2
P = 11
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Filed Under: Average
Exam Prep: Bank Exams

0 24219
Q:

What is the least number consisting of five digits that is exactly divisible by 12, 18, 20 and 25?

 

A) 10800 B) 11250
C) 10000 D) 10680  
 
Answer & Explanation Answer: A) 10800

Explanation:
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Filed Under: Problems on Numbers
Exam Prep: Bank Exams

0 24202
Q:

An assertion and a reason are given below.

 

Assertion : When velocity is kept constant and wavelength is halved, then the frequency is doubled.

 

Reason : Velocity = Frequency x Wavelength

 

Choose the answer.

 

A) Both Assertion and Reason are true and Reason is the correct explanation of Assertion B) Both Assertion and Reason are true but Reason is not the correct explanation of Assertion
C) Both Assertion and Reason are false D) Assertion is true but Reason is false
 
Answer & Explanation Answer: A) Both Assertion and Reason are true and Reason is the correct explanation of Assertion

Explanation:
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Filed Under: Statement and Conclusions
Exam Prep: Bank Exams

1 24201
Q:

Warm is to Hot as Not so Good is to

A) Average B) Fair
C) Not so bad D) Worse
 
Answer & Explanation Answer: D) Worse

Explanation:

Warm and hot are in the same meaning sense , so not so good is same as worse in meaning.

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Filed Under: Analogy
Exam Prep: AIEEE , Bank Exams , CAT , GATE
Job Role: Analyst , Bank Clerk , Bank PO

25 24195
Q:

The present worth of Rs.169 due in 2 years at 4% per annum compound interest is

A) Rs.156.25 B) Rs.150
C) Rs.140 D) Rs125.25
 
Answer & Explanation Answer: A) Rs.156.25

Explanation:

 

Present Worth

 

=P1+R1002

 

=1691+41002

 

= Rs.156.25

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

30 24194