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Q:

If the rate of inflation for the next 20 years is 2.5% per year, what annual income will be needed 20 years from now to have the same purchasing power as a $30,000 annual income today?

A) 39158 B) 49158
C) 59158 D) 69158
 
Answer & Explanation Answer: B) 49158

Explanation:

i=j/m

FV = PV(1+  i)^n

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

2 4314
Q:

Kashundra Jones plans to make a lump sum deposit so that she can withdraw $3,000 at the end of each quarter for 10 years. Find the lump sum if the money earns 10% per year compounded quarterly

A) 75263.64 B) 76345
C) 76389 D) 56897
 
Answer & Explanation Answer: A) 75263.64

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

0 4313
Q:

Read each sentence to find out whether there is any grammatical error in it. The error, if any, will be in one part of the sentence.

In which part of the sentence there is an error ?

A) He is B) Not agreeing
C) To me. D) No error
 
Answer & Explanation Answer: C) To me.

Explanation:

Replace 'to' by 'with'.

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

3 4311
Q:

If an investment can earn 4% compounded monthly, what amount must you invest now in order to accumulate $10,000 after 3 years?

A) 8695.61 B) 6786
C) 3478 D) 4092
 
Answer & Explanation Answer: A) 8695.61

Explanation:

i=j/m

PV = FV (1+  i)^-n 

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

0 4309
Q:

If 6A = 4B = 9C; What is A : B : C?

A) 6 : 4 : 9 B) 9 : 4 : 6
C) 4 : 9 : 6 D) 6 : 9 : 4
 
Answer & Explanation Answer: D) 6 : 9 : 4

Explanation:
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Filed Under: Ratios and Proportions
Exam Prep: Bank Exams

3 4309
Q:

In a certain code language, “friend is honest” is written as “hu lip ma”, “honest are men” is written as “lip fi kit” and “men never clever” is written as “fi tigi”. What is the code for “men” in that code language?

A) lip B) fi
C) hu D) ma
 
Answer & Explanation Answer: B) fi

Explanation:
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Filed Under: Coding and Decoding
Exam Prep: Bank Exams

1 4308
Q:

The function of an assembler is ________

A) To convert basic language into machine language B) To convert high level language into machine language
C) To convert assemble language into machine language D) To convert assemble language into high level language
 
Answer & Explanation Answer: C) To convert assemble language into machine language

Explanation:
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Filed Under: Computer
Exam Prep: Bank Exams

2 4308
Q:

When the European union formed nations began to?

A) eliminate their home governments. B) abolish many geographic boundaries.
C) create one unified education system. D) cooperate on law enforcement.
 
Answer & Explanation Answer: D) cooperate on law enforcement.

Explanation:

When the European union formed nations began to cooperate on law enforcement. The European Union is set up with the aim of ending the frequent and bloody wars between neighbours, which culminated in the Second World War.

 

As of 1950, the European Coal and Steel Community begins to unite European countries economically and politically in order to secure lasting peace. The six founding countries are Belgium, France, Germany, Italy, Luxembourg and the Netherlands. The 1950s are dominated by a cold war between east and west.

 

The historical roots of the European Union lie in the Second World War. Europeans are determined to prevent such killing and destruction from ever happening again.

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

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