GRE Questions

Q:

How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?

A) 3.5 years B) 4 years
C) 4.5 years D) 5 years
 
Answer & Explanation Answer: B) 4 years

Explanation:

Time = (100 x 81)/(450 x 4.5) years

= 4 years.

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Filed Under: Simple Interest
Exam Prep: GRE

11 11424
Q:

A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is:

A) 650 B) 690
C) 698 D) 700
 
Answer & Explanation Answer: C) 698

Explanation:

S.I. for 1 year =  Rs. (854 - 815) = Rs. 39.

S.I. for 3 years = Rs.(39 x 3) = Rs. 117.

Principal = Rs. (815 - 117) = Rs. 698

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Filed Under: Simple Interest
Exam Prep: GRE

247 50169
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) 6% B) 5%
C) 7% D) 8%
 
Answer & Explanation Answer: A) 6%

Explanation:

1. To find the interest, subtract the principal from the balance.

       $618 - $600 = $18

2.Use the simple interest formula and solve for r.

       I = Prt

      18= 600 x r x (1/2)

       r= 0.06 =6%

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Filed Under: Simple Interest
Exam Prep: GRE
Job Role: Bank PO

1 4773
Q:

If the ratio of the ages of two friends A and B is in the ratio 3 : 5 and that of B and C is 3 : 5 and the sum of their ages is 147, then how old is B?

A) 27 Years B) 75 Years
C) 45 Years D) 49 Years
 
Answer & Explanation Answer: C) 45 Years

Explanation:

The ratio of the ages of A and B is 3 : 5.
The ratio of the ages of B and C is 3 : 5.

B's age is the common link to both these ratio. Therefore, if we make the numerical value of the ratio of B's age in both the ratios same, then we can compare the ages of all 3 in a single ratio.

The can be done by getting the value of B in both ratios to be the LCM of 3 and 5 i.e., 15.

The first ratio between A and B will therefore be 9 : 15 and
the second ratio between B and C will be 15 : 25.

Now combining the two ratios, we get A : B : C = 9 : 15 : 25.

Let their ages be 9x, 15x and 25x.
Then, the sum of their ages will be 9x + 15x + 25x = 49x

The question states that the sum of their ages is 147.
i.e., 49x = 147 or x = 3.

Therefore, B's age = 15x = 15*3 = 45

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Filed Under: Ratios and Proportions
Exam Prep: GRE

59 23109
Q:

In how many years will a sum of Rs.800 at 10% per annum compounded semi annually become Rs.926.10

A) 1.5 B) 2.5
C) 3.5 D) 4.5
 
Answer & Explanation Answer: A) 1.5

Explanation:

Let the time be 'n' years, Then

 

800×1+51002n=926.10 <=> 1+51002n=92618000<=>21202n=21103

 

n = 3/2 or n= 112 Years 

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Filed Under: Simple Interest
Exam Prep: GRE

125 34974
Q:

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

A) Rs.150.50 B) Rs.154.75
C) Rs.156.25 D) Rs.158
 
Answer & Explanation Answer: C) Rs.156.25

Explanation:

Present worth = 169/(1+4/100)^n = 156.25

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Filed Under: Simple Interest
Exam Prep: GRE
Job Role: Analyst

4 5300
Q:

The principal that amounts to Rs.4913 in 3 years at 413% per annum compound interest compounded annually is

A) Rs.3096 B) Rs.4076
C) Rs.4085 D) Rs.4096
 
Answer & Explanation Answer: D) Rs.4096

Explanation:

principal = A=4913,T=3, R=413

P=A1+R100T

 

 = Rs.4096

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Filed Under: Compound Interest
Exam Prep: GRE

30 23383
Q:

At what rate of compound interest per annum will a sum of rs.1200 becomes rs.1348.32 in 2 years

A) 66%% B) 6.5%
C) 7% D) 7.5%
 
Answer & Explanation Answer: A) 66%%

Explanation:

rate=r%

1200 (1+r/100)^2=1348.32

r=6%

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Filed Under: Simple Interest
Exam Prep: GRE
Job Role: Analyst

42 31278