Banking Awareness for Competitive Exam Success

Banking Awareness

Q. A bank gives a compound interest of 8% per annum. If you invest $1000, how much will you have after 1 year?

A. $1080
B. $1100
C. $1120
D. $1150

Solution

Amount = Principal × (1 + Rate) = 1000 × (1 + 0.08) = 1000 × 1.08 = $1080.

Correct Answer: A — $1080

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Q. A bank offers a simple interest rate of 5% per annum. If you invest $2000 for 3 years, what will be the total interest earned?

A. $300
B. $400
C. $500
D. $600

Solution

Simple Interest = Principal × Rate × Time = 2000 × 0.05 × 3 = $300.

Correct Answer: B — $400

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Q. A loan of $5000 is taken at a compound interest rate of 6% per annum. What will be the amount after 2 years?

A. $5630
B. $6000
C. $6760
D. $7000

Solution

Amount = Principal × (1 + Rate)^Time = 5000 × (1 + 0.06)^2 = 5000 × 1.1236 = $5618.

Correct Answer: C — $6760

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Q. If 2x - 3 = 7, what is the value of x?

A. 2
B. 3
C. 5
D. 7

Solution

2x = 10, so x = 5.

Correct Answer: C — 5

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Q. If 5x + 3 = 18, what is the value of x?

A. 2
B. 3
C. 4
D. 5

Solution

5x = 18 - 3 = 15, so x = 15/5 = 3.

Correct Answer: B — 3

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Q. If 5x - 10 = 0, what is the value of x?

A. 0
B. 2
C. 5
D. 10

Solution

5x = 10, so x = 10/5 = 2.

Correct Answer: B — 2

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Q. If 7x + 3 = 24, what is the value of x?

A. 2
B. 3
C. 4
D. 5

Solution

7x = 24 - 3 = 21, so x = 21/7 = 3.

Correct Answer: B — 3

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Q. If a person buys a watch for $120 and sells it for $150, what is the percentage profit?

A. 20%
B. 25%
C. 30%
D. 35%

Solution

Profit = Selling Price - Cost Price = 150 - 120 = $30. Percentage Profit = (Profit/Cost Price) × 100 = (30/120) × 100 = 25%.

Correct Answer: B — 25%

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Q. If a product is sold for $80 after a discount of 20%, what was the original price?

A. $90
B. $100
C. $110
D. $120

Solution

Let the original price be x. Then, x - 0.2x = 80, 0.8x = 80, x = 100.

Correct Answer: B — $100

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Q. If a sequence is defined as a_n = 2n + 1, what is a_5?

A. 9
B. 10
C. 11
D. 12

Solution

a_5 = 2(5) + 1 = 10 + 1 = 11.

Correct Answer: A — 9

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Q. If a sequence is defined as a_n = 3n + 2, what is a_4?

A. 10
B. 14
C. 12
D. 8

Solution

a_4 = 3(4) + 2 = 12 + 2 = 14.

Correct Answer: B — 14

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Q. If a worker can complete a task in 10 days, how much of the work will he complete in 3 days?

A. 1/10
B. 1/5
C. 3/10
D. 3/5

Solution

Work done in 1 day = 1/10. Work done in 3 days = 3 × (1/10) = 3/10.

Correct Answer: C — 3/10

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Q. If the profit on selling a bicycle for $240 is 20%, what was the cost price?

A. $180
B. $200
C. $220
D. $240

Solution

Let Cost Price = x. Then, Selling Price = x + 0.2x = 1.2x. 1.2x = 240, x = 240/1.2 = 200.

Correct Answer: B — $200

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Q. What is the greatest common divisor (GCD) of 36 and 60?

A. 6
B. 12
C. 18
D. 24

Solution

The GCD of 36 and 60 is 12.

Correct Answer: B — 12

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Q. What is the greatest common divisor (GCD) of 48 and 180?

A. 6
B. 12
C. 24
D. 36

Solution

The GCD of 48 and 180 is 12.

Correct Answer: B — 12

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Q. What is the greatest common divisor (GCD) of 48 and 18?

A. 6
B. 12
C. 18
D. 24

Solution

GCD(48, 18) = 6.

Correct Answer: A — 6

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Q. What is the remainder when 12345 is divided by 7?

A. 1
B. 2
C. 3
D. 4

Solution

12345 mod 7 = 4, so the remainder is 4.

Correct Answer: B — 2

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Q. What is the value of 3^3 + 4^2?

A. 25
B. 27
C. 29
D. 32

Solution

3^3 = 27 and 4^2 = 16, so 27 + 16 = 43.

Correct Answer: A — 25

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Q. What is the value of x in the equation 4x - 8 = 0?

A. 0
B. 2
C. 4
D. 8

Solution

4x = 8, so x = 8/4 = 2.

Correct Answer: B — 2

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Q. What is the value of x in the equation 5x - 10 = 0?

A. 0
B. 2
C. 5
D. 10

Solution

5x = 10, so x = 10/5 = 2.

Correct Answer: B — 2

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Q. Which of the following numbers is divisible by 9?

A. 123
B. 234
C. 345
D. 456

Solution

456 is divisible by 9 since 4+5+6 = 15, and 15 is divisible by 9.

Correct Answer: D — 456

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Q. Which polynomial has a root at x = 2?

A. x^2 - 4
B. x^2 + 4
C. x - 2
D. x + 2

Solution

x^2 - 4 = 0 has roots at x = 2 and x = -2.

Correct Answer: A — x^2 - 4

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Banking Awareness

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