Bank PO Questions


Q:

Kramer borrowed $4000 from George at an interest rate of 7% compounded semiannually. The loan is to be repaid by three payments. The first payment, $1000, is due two years after the date of the loan. The second and third payments are due three and five years, respectively, after the initial loan. Calculate the amounts of the second and third payments if the second payment is to be twice the size of the third payment.

A) 1389 B) 1359
C) 1379 D) 1339.33
 
Answer & Explanation Answer: D) 1339.33

Explanation:

Given:j=7% compounded semiannually making m=2 and i = j/m= 7%/2 = 3.5%
Let x represent the third payment. Then the second payment must be 2x.
PV1,PV2, andPV3 represent the present values of the first, second, and third payments.

Since the sum of the present values of all payments equals the original loan, then
PV1 + PV2  +PV3  =$4000 -------(1)

PV1   =FV/(1 + i)^n  =$1000/(1.035)^4=  $871.44

At first, we may be stumped as to how to proceed for
PV2 and PV3. Let’s think about the third payment of x dollars. We can compute the present value of just $1 from the x dollars

pv=1/(1.035)^10=0.7089188

PV2   =2x * 0.7089188 = 1.6270013x
PV3   =x * 0.7089188=0.7089188x
Now substitute these values into equation ➀ and solve for x.
$871.442 + 1.6270013x + 0.7089188x  =$4000

2.3359201x  =$3128.558

x=$1339.326
Kramer’s second payment will be 2($1339.326)  =$2678.65, and the third payment will be $1339.33

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

0 4607
Q:

World’s largest floating Solar Farm launched in ____________.

A) Japan B) China
C) Russia D) France
 
Answer & Explanation Answer: B) China

Explanation:

China flicked the switch on the world’s largest floating solar energy plant.  The massive waterborne plant is expected to generate 40 megawatts at one time and could supply electricity for over 15,000 homes. The pioneering project, located in eastern China, is thought to cement China’s status as a top producer of solar energy in the world.  The plant has been built in Huainan city, Anhui Province, by Sungrow Power Supply, a Chinese company specialised in renewable energy.

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Filed Under: Longest, Shortest, Deepest
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Bank Clerk , Bank PO

11 4605
Q:

1422 ÷ 1260.25 = ?

A) 586 B) 578
C) 568 D) 566
 
Answer & Explanation Answer: C) 568

Explanation:

142 x 142 x 11260.25

 

=> 142 x 142 x 135.5  = 568

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

4 4605
Q:

Find the missing number in the given puzzle?

Answer

Screenshot_(36)1590052380.jpg image 


Hence, the missing number iss 25.

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Subject: Number Puzzles Exam Prep: CAT , Bank Exams
Job Role: Bank PO , Bank Clerk

69 4604
Q:

Online functional learning portals are accessed through the

A) Web portal B) Interactive Multimedia Instruction
C) Instructor Facilitated New Equipment D) All the above
 
Answer & Explanation Answer: A) Web portal

Explanation:

Online functional learning portals are accessed through the web portal.

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Filed Under: Computer
Exam Prep: AIEEE , Bank Exams
Job Role: Analyst , Bank Clerk , Bank PO

8 4602
Q:

The average score of boys in an examination in a school is 81 and that of the girls is 83 and the average score of the school is 81.8. Then what will be ratio between the number of girls to the number of boys, in the examination?

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

Explanation:

Let the number of boys = b

Let the number of girls = g

From the given data,

 

81b + 83g = 81.8(b + g)

81.8b - 81b = 83g - 81.8g

0.8b = 1.2g

b/g = 1.2/0.8 = 12/8 = 3/2

=> g : b = 2 : 3

 

Hence, ratio between the number of girls to the number of boys = 2 : 3.

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

24 4601
Q:

There are 26 balls marked with alphabetical order A to Z. What is the probability of selecting vowels listed balls? 

A) 1 B) 21/26
C) 5/26 D) 5
 
Answer & Explanation Answer: C) 5/26

Explanation:

We know that,

Total number of balls n(S) = 26

Number of vowels n(E) = 5

Hence, required probability = n(E)/n(S) = 5/26.

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

44 4599
Q:

Which of the following organisations has taken the responsibility to raise about US $ 2 billion to build a rail link from china to Singapore connecting eight nations?

A) ASEAN B) SAARC
C) EU D) NATO
 
Answer & Explanation Answer: A) ASEAN

Explanation:
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Filed Under: General Awareness
Exam Prep: Bank Exams
Job Role: Bank PO

3 4597