Quantitative Aptitude Practice Questions for IBPS PO Mains – Set 1

Mentor for Bank Exams
Quantitative Aptitude Practice Questions for IBPS PO Mains – Set 1
Directions (1 – 8): Study the following table carefully to answer the questions.
Rate of interest (P.C.P.A.) offered by five companies on deposits under different schemes
Company →
Scheme ↓
A
B
C
D
E
I
8.0
9.5
8.5
8.5
9.5
II
9.0
8.0
9.5
10.0
8.5
III
8.5
9.0
7.0
8.0
8.0
IV
9.5
8.5
10.0
9.0
10.0
1. Sahib deposited an amount in Scheme II with Company A for two years. After that he withdrew the amount and reinvested only the principal amount in Scheme IV of Company C for three years. Total amount of simple interest accrued from the two schemes is Rs.1200. What was the principal amount?
a) Rs. 2000
b) Rs. 2100
c) Rs. 2500
d) Rs. 2700
e) None of these
2. Company D offers compound interest under Scheme II and Company B offers simple interest under Scheme II. What will be the difference between the interests earned under Scheme IIof Company D and Scheme II of Company B in two years on an amount of Rs. 1.4 lakhs?
a) Rs. 5000
b) Rs. 6000
c) Rs. 7000
d) Rs. 7500
e) Rs. 8500
3. Company E offers compound interest under Scheme II, simple interest under Scheme IV. Tanish invested Rs. 20,000 with this company under Scheme IV and after one year switched to Scheme II along with the interest of the first year for two more years.  What is the total amount he will get at the end of three years?
a) Rs. 23,499
b) Rs. 24,599
c) Rs. 25,899
d) Rs. 26,499
e) Rs. 26,899
4. Harsh invested an amount of Rs. 40,000 for two years with Company A under Scheme IV, which offers simple interest, andSagar invested an equal amount for two years with Company D under Scheme III, which offers compound interest. Who earned more interest and how much?
a) Harsh, Rs. 944
b) Sagar, Rs. 944
c) Harsh, Rs. 1561
d) Sagar, Rs. 1561
e) Both earned equal
5. Jatin invested Rs. 25,000 in Company B under Scheme III, which offers compound interest calculated half yearly and Rs. 30,000 in Company D under Scheme II, which offers compound interestcalculated yearly. What will be the total amount of interest earned by Jatin in two years?
a) Rs. 10,573
b) Rs. 11,113
c) Rs. 11,243
d) Rs. 11,783
e) None of these
Directions (6 – 10): Study the following information carefully and answer the question given below it.
Out of the 10,000 candidates eligible for an Officer’s post in Public Sector Bank, 400 candidates have prior experience of working in Public Sector Banks in rural area only. 20% of the total number of candidates have prior experience of working in Public Sector Banks in urban areas only. 10% of the total number of candidates have prior experience of working in Private Sector Banks in urban areas only. 4% of the total number of candidates have prior experience of working in Private Sector banks in rural areas only. 2,100 candidates have worked in both Public and Private Sector Banks in urban areas only. 450 candidates have worked in both Public and Private Sector Banks in rural areas only. The remaining candidates have no prior experience of working in the Banking industry.
6. How many candidates have prior experience of working in rural areas (both Public Sector and Private Sector Banks together)?
a) 950
b) 1,150
c) 1,350
d) 1,400
e) 1,750
7. How many candidates have prior experience of working in Public Sector Banks (Urban and Rural areas together)?
a) 4,850
b) 5,050
c) 7,550
d) 8,450
e) None of these
8. What is the ratio of the candidates who have a prior experience of working in Public Sector Banks in urban areas only to the candidates who have a prior experience of working in Banks in urban areas?
a) 21 : 10
b) 10 : 21
c) 20 : 51
d) 51 : 20
e) None of these
9. What is the total number of candidates who have worked in Private Sector Bank in urban areas?
a) 850
b) 950
c) 3,100
d) 4,100
e) None of these
10. What is the percentage of the candidates who have worked in both Public and Private sector banks to the candidates who have no prior experience of working in the banking industry?
a) 63%
b) 67%
c) 70%
d) 72%
e) 75%
Directions (11 – 15): Study the following graph carefully and answer the questions given below.
11. What is the average profit earned by the company over the years?
a) Rs. 42500000
b) Rs. 420000000
c) Rs. 428000000
d) Rs. 430000000
e) None of these
12. In which year is the percent increase / decrease in profit the highest from that of the previous year?
a) 2002
b) 2001
c) 2003
d) 2004
e) None of these
13. The expenditure of the company in the year 2001, was Rs. 45 crore, what was the income of the comapany in that year?
a) Rs. 400000000
b) Rs. 600000000
c) Rs. 55000000
d) Rs. 60000000
e) None of these
14. What is the approximate per cent profit of the year 2004, if the income of the company was Rs. 136 crore?
a) 85
b) 75
c) 79
d) 82
e) 73
15. The income of the company in the year 2000 was Rs. 50 crore and the income of the company in the year 2003 was Rs. 95 crore. What is the respetive ratio of the expenditure of the company in the year2000 to the expenditure of the company is the year 2003?
a) 5 : 9
b) 1 : 3
c) 4 : 7
d) 4 : 9
e) None of these


Solutions:
1. C) Interest = PRT/100
Where P = Principal, R = Rate of interest, T = Time
For the first two years in Scheme II of company A
Let the principal be P
Rate of interest = 9%
S.I. = (P × 9 × 2)/100 = 18P/100
For the next three years in Scheme IV of company C
Let the principal be P
Rate of interest = 10%
S.I. = (P × 10 × 3)/100 = 3P/10
Total interest = 18P/100 + 3P/10 = 48P/100
Total interest = Rs. 1200
48P/100 = 1200
P = Rs. 2500
2. C) The formula for annual compound interest, including principal sum, is:
CI = P (1 + r/100)^nt – P
For company D under Scheme II
Principal = Rs. 1,40,00
Rate of interest = 10%
Interest is calculated annually, n = 1
Time (t) = 2 years
C.I. = 140000(1 + (10/100))– 140000 = Rs. 29400
For company B under Scheme II
Interest = PRT/100
Where P = Principal, R = Rate of interest, T is the time for which money is borrowed/lent
Principal = Rs. 1,40,00
Rate of interest = 8%
Time (T) = 2 years
Interest = (140000 × 8 × 2)/100 = Rs. 22400
Difference between interests earned = 29400 22400 = Rs. 700
3. C) Under scheme IV for 1 year
Rate of interest = 10%
Principal = Rs. 20000
Interest = (20000 × 10 × 1)/100 = Rs. 2000
Total amount = 20000 + 2000 = Rs. 22000
Under scheme II for 1 year
CI = P (1 + r/100)^nt – P
Rate of interest = 8.5%
n = 1, t = 1 year, P = Rs. 22000
A = 22000(1 + 8.5/100)2 = Rs. 25898.95 = Rs. 25,899
4. A) For Harsh
Rate of interest = 9.5%
Interest = (40000 × 9.5 × 2)/100 = Rs. 7600
For Sagar
Rate of interest = 8%
CI = P (1 + r/100)^nt – P
P = Rs. 40000
t = 2 years, n = 1
C.I. = 40000(1 + 8/100)2 – 40000 = Rs. 6656
Harsh receives more interest i.e. = 7600 - 6656 = Rs. 944
5. B) For Company B under Scheme III,
P = Rs. 25000
t = 2 years
r = 9%
n = 2
C.I. = 25000(1 + 9/200)4 – 25000 = Rs. 4813
Company D under Scheme II,
P = Rs. 30000
t = 2 years; r = 10%; n = 1
C.I. = 30000(1 + 10/100)2 – 30000 = Rs. 6300
Total interest earned = 4813 + 6300 = Rs. 11113
(6 – 10): Common Explanation:
Total number of candidates = 10000
Candidates having experience in Public Sector Banks in rural area only = 500
Candidates having experience in Public Sector Banks in urban area only = 20% = 2000
Candidates having experience in Private Sector Banks in urban area only = 10% = 1000
Candidates having experience in Private Sector Banks in rural area only = 4% = 400
Candidates having experience in Public and private Sector Banks in urban area only = 2100
Candidates having experience in Public and private Sector Banks rural area only = 450
Candidates having no experience = 10000 - (500 + 2000 + 1000 + 400 + 2100 + 450) = 3550
6. C) For rural area
Total candidates = 500 + 400 + 450 = 1350
7. B) Total candidates having experience in public sector banks = 500 + 2000 + 2100 + 450 = 5050
8. C) Total number of candidates who have worked in urban areas = 2000 + 1000 + 2100 = 5100
required ratio = 2000/5100 = 20/51
9. C) Total candidates having experience in private sector in urban area = 1000 + 2100 = 3100
10. D) Candidates having no experience = 3550
  Total candidates having experience working in both banks = 2100 + 450 = 2550
Percentage = (2550/3550) × 100 = 71.83% = 72%
11. E) The avg. of profits = Total Profits/No.of years
Total profits in 6 years = 30 + 15 + 45 + 50 + 60 + 55 = 255
So, avg = 255/6 = 42.5 crores = Rs 425000000
12. A) Profit% = (This year profit – Previou year profit)/Previous year Profit × 100
Profit in year
Profit in crores
Profit %
2000
30
-
2001
15
-50%
2002
45
200%
2003
50
11%
2004
60
20%
2005
55
-8%
Comparing the magnitudes, we can say that the year of highest per cent increase / decrease in profit is 2002.
13. B) Income of company = expenditure + Profit
Expenditure = 45 crore
Profit in 2001 = 15 crores   (from line graph)
Thus, income = 45 + 15 = 60 crores = Rs 60,00,00,000
14. C) Income of company = expenditure + profit of a company
Therefore, expenditure in 2004 = 136 – 60 = 76    …(1)     {From line graph profit in 2004 = 60 }
Therefore profit percentage = Profit/Expenditure × 100 = 60/76 × 100 = 79%
15. D) Expenditure of a company = Income of a company + Profit by a company
Thus from the above formula, expenditure of a company in 2000 = 50 crores – 30 crores  { from line graph profit of company is 30 crores in 2000}
Expenditure of company in 2000 = 20 crores
Similarily, expenditure of company in 2003 = 95crores – 50 crores = 45 crores.
So, ratio of expenditure of company in 2000 to 2003 = 20/45 = 4/9