Reading Comprehension - Banking Level Exam Preparation

Reading Comprehension - Banking Level

Q. A person has an average of 80 marks in 5 subjects. If he scores 90 in the 6th subject, what will be his new average?

Solution

Total marks in 5 subjects = 80 × 5 = 400. New total = 400 + 90 = 490. New average = 490/6 = 81.67, rounded to 82.

Correct Answer: C — 84

Q. If a bank offers compound interest at a rate of 10% per annum, how much will $1000 grow in 2 years?

Solution

Amount = Principal × (1 + Rate)^Time = 1000 × (1 + 0.10)^2 = 1000 × 1.21 = $1210.

Correct Answer: B — $1210

Q. If a product is sold for $120 after a profit of 20%, what was the cost price of the product?

Solution

Let Cost Price = x. Then, 120 = x + 0.2x => 120 = 1.2x => x = 120/1.2 = $100.

Correct Answer: A — $80

Q. If the average of 10 numbers is 20, what is the sum of those numbers?

Solution

Sum = Average × Number of items = 20 × 10 = 200.

Correct Answer: B — 200

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