Bank PO Questions and Answers with Explanation, Job Roles

Q:

Find: S.l. on Rs 6250 at 14% per annum for 146 days.

A) Rs.350	B) Rs.450
C) Rs.550	D) Rs.650

Answer & Explanation Answer: A) Rs.350

Explanation:

P = Rs. 6250, R = 14 % & T = (146/365) years = 2/5 years .

S.I= $R s . [\frac{6250 * 14 * \frac{2}{5}}{100}] = R s . 350$

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

66 26909

Q:

Find: S.l on Rs 68000 at $16 \frac{2}{3}$ 1 % per annum for 9 months

A) 6500	B) 7500
C) 8500	D) 9500

Answer & Explanation Answer: C) 8500

Explanation:

P = 68000, R = $\frac{50}{3}$ % & T = 9 months (3/4 years)

$S . I = \frac{p \times r \times t}{100} = [\frac{(6800 \times \frac{50}{3} \times \frac{3}{4})}{100}] = R s . 8500$

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Exam Prep: GRE
Job Role: Bank PO

3 8734

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
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Job Role: Bank PO

2 8123

Q:

A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at $6 \frac{1}{4}$ p.a for 2 years. Find his gain in the transaction per year

A) Rs. 112.50	B) Rs.150.25
C) Rs.167.50	D) Rs.170

Answer & Explanation Answer: A) Rs. 112.50

Explanation:

$g a i n i n 2 y e a r s = R s . [(5000 * \frac{25}{4} * \frac{2}{100}) - (\frac{5000 * 4 * 2}{100})]$

= Rs. (625 - 400)

= Rs. 225

$g a i n i n 1 y e a r = R s . (\frac{225}{2}) = 112.50$

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

114 41427

Q:

A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

A) 5%	B) 8%
C) 12%	D) 15%

Answer & Explanation Answer: C) 12%

Explanation:

S.I. for 3 years = Rs. (12005 - 9800) = Rs. 2205.

S.I. for 5 years = Rs. $\frac{2205}{3} \times 5$ = Rs.3675

Principle = Rs.(9800-3675) = Rs.6125

Hence, Rate = $[\frac{100 \times 3675}{6125 \times 5}]$ =12%

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

16 18910

Q:

A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:

A) Rs.2000	B) Rs.10000
C) Rs.15000	D) Rs.20000

Answer & Explanation Answer: C) Rs.15000

Explanation:

Principal = $R s (\frac{100 \times 5400}{12 \times 3}) = R s . 15000$

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

162 68493

Q:

A Rent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is:

A) 5%	B) 7%
C) 7.5%	D) 10%

Answer & Explanation Answer: D) 10%

Explanation:

Let the rate be R% p.a.

Then, $\frac{5000 \times r \times 2}{100} + \frac{3000 \times r \times 4}{100} = 2200$

Rate = 10%

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Filed Under: Simple Interest
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Job Role: Bank PO

9 8573

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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