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)

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