GRE Questions and Answers with Explanation

Q:

An automobile financier claims to be lending money at simple interest, but he includesthe interest every six months for calculating the principal. If he is charging an interest of10%, the effective rate of interest becomes:

A) 10%	B) 10.25%
C) 10.5%	D) none of these

Answer & Explanation Answer: B) 10.25%

Explanation:

Let the sum be Rs. 100. Then,

S.I. for first 6 months = Rs.[ (100 x 10 x 1)/(100 x 2) ]= Rs.5

S.I. for last 6 months =Rs.[(102 x 10 x 1)/(100 x 2) ] = Rs.5.25

So, amount at the end of 1 year = Rs. (100 + 5 + 5.25) = Rs. 110.25

Effective rate = (110.25 - 100) = 10.25%

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Filed Under: Simple Interest
Exam Prep: GRE

14 11100

Q:

John sells his laptop to Mark at a loss of 20% who subsequently sells it to Kevin at a profit of 25%. Kevin after finding some defect in the laptop, returns it to Mark but could recover only Rs.4.50 for every Rs. 5 he had paid. Find the amount of Kevin’s loss if John had paid Rs. 1,75,000 for the laptop ?

A) Rs.16,500	B) Rs.17,500
C) Rs.14,200	D) Rs.15,520

Answer & Explanation Answer: B) Rs.17,500

Explanation:

Let’s assume John bought the laptop for Rs. 100
He then sells it to Mark at a loss of 20% => Rs. 80,
Who consequently sells it to Kevin at a profit of 25% => Rs. 100
Then, Kevin sells it back to Mark for Rs. 90 (Rs.4.50 for every Rs. 5 that he had paid initially), so he suffers a loss of Rs. 10
Therefore, for Rs. 100 there is a loss of Rs. 10,
Then for Rs. 1,75,000 there will be a loss of Rs. 17,500.

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Filed Under: Profit and Loss
Exam Prep: AIEEE , Bank Exams , CAT , GATE , GRE
Job Role: Bank Clerk , Bank PO

15 11068

Q:

There is a clock which shows false timing ie it shows 20 minutes less for each 1 hour. If the clock shows 12 noon now how many minutes will be lost when it shows 2 pm ?

A) 36 minutes	B) 48 minutes
C) 35 minutes	D) 60 minutes

Answer & Explanation Answer: D) 60 minutes

Explanation:

For 1 hour, 20 minutes is slower, then for
06 miuntes - 2 minutes is slower
30 minutes - 10 minutes
Actual time | false time
12 12
01 PM 12:40 PM (20 minutes slower)
02 PM 01:20 PM
03 PM 02:00 PM

So, when actual time is 3pm, the false time is 2 pm.
So, it loses 60 minutes when it shows 2 pm.

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Filed Under: Clock puzzles
Exam Prep: AIEEE , Bank Exams , CAT , GATE , GRE
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22 11056

Q:

The circumferences of two circles are 264 meters and 352 meters. Find the difference between the areas of the larger and the smaller circles ?

A) 2413 sq.m	B) 1234 sq.m
C) 4312 sq.m	D) 2143 sq.m

Answer & Explanation Answer: C) 4312 sq.m

Explanation:

Let the radii of the smaller and the larger circles be 's' m and 'l' m respectively.

$2 πs$ = 264 and $2 πl$ = 352

s = $\frac{264}{2 π}$ and l = $\frac{352}{2 π}$

Difference between the areas = $π l^{2} - π s^{2}$

= $π (\frac{176^{2}}{π^{2}} - \frac{132^{2}}{π^{2}})$

= $\frac{1762}{π} - \frac{1322}{π}$

= (176 - 132)(176 + 132) / $π$

= (44 x 308) / (22/7) = 4312 sq.m

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Filed Under: Volume and Surface Area
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18 11045

Q:

Sonika invested an amount of Rs.5800 for 2 years. At what rate of compound interest will she get an amount of Rs.594.50 at the end of 2 years ?

A) 6.5%	B) 6%
C) 5%	D) 4.5%

Answer & Explanation Answer: C) 5%

Explanation:

C.I = $P [{(1 + \frac{r}{100})}^{t} - 1]$

594.5 = $5800 [{(1 + \frac{r}{100})}^{2} - 1]$

$\frac{594.5}{5800} + 1 = {(1 + \frac{r}{100})}^{2}$

$\frac{r}{100} = 1.05 - 1 = 0.05 = > r = 5$ % .

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Filed Under: Compound Interest
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13 11031

Q:

Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of Interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?

A) 3.6	B) 6
C) 18	D) cannot be determined

Answer & Explanation Answer: B) 6

Explanation:

Let rate = R% and time = R years.

Then, $(\frac{1200 \times R \times R}{100}) = 432$

$12 R^{2} = 432$

=> R = 6.

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

6 11018

Q:

What is the sum which earned interest?
I. The total simple interest was Rs. 7000 after 7 years.
II. The total of sum and simple interest was double of the sum after 5 years.

A) I alone sufficient while II alone not sufficient to answer	B) II alone sufficient while I alone not sufficient to answer
C) Either I or II alone sufficient to answer	D) Both I and II are necessary to answer

Answer & Explanation Answer: D) Both I and II are necessary to answer

Explanation:

Let the sum be Rs. x.

I gives, S.I. = Rs. 7000 and T = 7 years.

II gives, Sum + S.I. for 5 years = 2 x Sum Sum = S.I. for 5 years.

Now, S.I. for 7 years = Rs. 7000.

therefore, S.I. for 1 year = Rs. 1000.

Thus, I and II both are needed to get the answer.

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

3 10972

Q:

The computer that process both analog and digital is called

A) Hybrid computer	B) Mainframe computer
C) Digital computer	D) Analog computer

Answer & Explanation Answer: A) Hybrid computer

Explanation:

The computer that process both analog and digital is called Hybrid computer.

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Filed Under: Computer
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6 10961

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