SBI Clerk Data Interpretation Set 4

As many of you might know that I have started preparation series for SBI Clerk exam, In this series I am providing free data interpretation question sets of exam difficulty level. 

Directions - Use the table to answer the following questions.
Plan
A (Simple interest)
B (Simple interest)
C (Compounded annually)
D(Compounded annually)
Principle
Rs.15,000
Rs……………
Rs.10,000
Rs.25,000
Term
42 months
30 months
24 months
...….….. months
Interest rate
…………%
7.5%
9%
12.50%

Interest
Rs.5250
Rs.3750
Rs……………
Rs.3125

1. Suppose the interest rate of plan C is changed to that of plan A, how much more or less one can earn as interest on a principle amount of Rs.10, 000?
a. Rs. 229
b. Rs. 219
c. Rs. 239
d. Rs. 199
e. Rs. 189

2. If the investment term under plan D is tripled, what will be the interest earned under the new plan?
a. Rs.10,595.70
b. Rs.10,585.70
c. Rs.10,955.70
d. Rs.10,575.90
e. Rs.10,585.90

3. After maturity of plan B if the amount along with interest is reinvested in plan A. What will be the maturity amount after a period of 24 months?
a. Rs.27,500
b. Rs.27,850
c. Rs.28,500
d. Rs.28,750
e. Rs.28,775

4. What is the ratio between interest earned under plan C (Compounded annually) and plan C (If the interest is not compounded)?
a. 68:63
b. 200:209
c. 210:219
d. 209:200
e. 219:210

5. A minimum of how many months should one invest Rs.25,000 in plan D so that the interest earned is not less than Rs.6,600.
a. 48
b. 36
c. 30
d. 24
e. 12

Answers: 1.b 2.a 3.c 4.d 5.d

Solution

Plan
A (Simple interest)
B (Simple interest)
C (Compounded annually)
D(Compounded annually)
Principle
Rs.15,000
Rs.20,000
Rs.10,000
Rs.25,000
Term
42 months
30 months
24 months
12 months
Interest rate
10%
7.5%
9%
12.50%
Interest
Rs.5250
Rs.3750
Rs.1881
Rs.3125

1.   Interest earned under default plan C=Rs.1881
Interest rate of plan A=10%
Interest earned under plan C at 10%p.a compounded annually=Rs.2100
Difference in interest earned=2100-1881= Rs.219 (b)
2.   Original term is 12 and when it is tripled it becomes 36 months.
Interest on Rs.25,000@12.50 p.a (Compounded annually) for 36 months is Rs.10,595.70 (a)
3.   Maturity amount of plan B=Rs.23,750
Rs.23,750 deposited for 2 years in plan A gives Rs.28,500 on maturity. (c)
4.   Interest earned under plan C (Compounded annually)=Rs.1881
Interest earned under-plan C (If the interest is not compounded)=Rs.1800
Ratio will be 1881:1800=209:200 (d)
5.   Investment of Rs.25,000 in plan D will earn Rs.6640.25 in 24 months. (d)

I am thankful to Arjun KV for sharing such amazing stuffs with my readers. In case you have something to share to mail me - monty.exe@gmail.com
Smart Prep Kit by Ramandeep Singh - Get here

Join 40,000+ readers and get free notes in your email

1 comment:

Thanks for commenting. It's very difficult to answer every query here, it's better to post your query on IBPSToday.com