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Q:

How long will it take $3000 to earn $60 interest at 6%?

A) 2months B) 3months
C) 4months D) 5months
 
Answer & Explanation Answer: C) 4months

Explanation:

t=I/pr

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

3 4887
Q:

A loan shark made a loan of $100 to be repaid with $120 at the end of one month. What was the annual interest rate?

A) 210% B) 220%
C) 230% D) 240%
 
Answer & Explanation Answer: D) 240%

Explanation:

r=I/PT

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

5 9001
Q:

Determine the exact and ordinary simple interest on a 90-day loan of $8000 at 812 %

A) 150$ B) $160
C) $170 D) $180
 
Answer & Explanation Answer: C) $170

Explanation:

Exact interest, I= prt = $8000 × 0.085 × 90/365 = 167.67

 

Ordinary Interest, I= Prt = $8000 x 0.085 x 90/360 = 170

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

1 6163
Q:

loan of $15 000 is taken out. If the interest rate on the loan is 7%, how much interest is due and what is the amount repaid if the loan was taken out on April 7 and is due in seven months

A) 13615.52 B) 14615.52
C) 15615.52 D) 16615.52
 
Answer & Explanation Answer: C) 15615.52

Explanation:

I = prt = [15000 × 0.07 × (214/365) ]=615.52

Future value, S = P + I = $15 000 + $615.52 = $15 615.52

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

1 3768
Q:

What is the use of MAU?

Answer

In token Ring , hub is called Multistation Access Unit(MAU).

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Subject: Networking
Job Role: Network Engineer

0 3038
Q:

A loan of $15 000 is taken out. If the interest rate on the loan is 7%, how much interest is due and what is the amount repaid if the loan is due in seven months

A) 15612.50 B) 14612.50
C) 13612.50 D) 17612.50
 
Answer & Explanation Answer: A) 15612.50

Explanation:

We have P = 15 000, r = 0.07 and since the actual date the loan was taken out
is not given, we use t =7/12

I = Prt=$15 000* 0.07* 7/12 = $612.50

Amount repaid = Future or accumulated value,

S = P + I = $15 000 + $612.50 = $15 612.50

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

2 3706
Q:

MAU-Multiple access unit

A) TRUE B) FALSE
Answer & Explanation Answer: B) FALSE

Explanation:

MAU is Multistation Access Unit

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Subject: Networking
Job Role: Network Engineer

0 3005
Q:

What is the difference between routable and non- routable protocols?

Answer

Routable protocols can work with a router and can be used to build large networks. Non-Routable protocols are designed to work on small, local networks and cannot be used with a router

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Subject: Networking
Job Role: Database Administration

0 3218