Test Series - w Quants

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Test Number 24/24

Q: It takes one minute to fill 2/7 th of a vessel. What is the time taken in minutes to fill the whole of the vessel  ?
A. 7/5 min
B. 1/7 min
C. 5/7 min
D. 7/2 min
Solution: Time taken to fill 2/7 = 1Then to fill full 1 = ?? = 1/(2/7) = 7/2 minutes.
Q: Josh borrowed $250 from his mother to buy an electric scooter. Josh will pay her back in 1 year with 3% simple annual interest. How much interest will Josh pay?
A. 7.50
B. 8.50
C. 10.50
D. 9.50
Solution: I=prt/100
Q: A $1000 face value Series S50 compound interest Canada Savings Bond (CSB) was presented to a credit union branch for redemption.What amount did the owner receive if the redemption was requested on:January 17, 2001?
A. 1406
B. 1506
C. 1206
D. 1306
Solution: I  = ptr
Therefore, the total amount the owner received on January 17, 2001 was
$1295.57 + $10.47 = $1306.04
Q: Payments of $2000 and $1000 were originally scheduled to be paid one year and five years, respectively, from today. They are to be replaced by a $1500 payment due four years from today, and another payment due two years from today. The replacement stream must be economically equivalent to the scheduled stream. What is the unknown payment, if money can earn 7% compounded semiannually?
A. 1348
B. 1548
C. 1748
D. 1648
Solution: FV1 = Future value of $2000, 1 year later= PV (1+  i)^n
Q: The population of a rural region is expected to fall by 2% per year for the next 10 years. If the region’s current population is 100,000, what is the expected population 10 years from now?
A. 81707
B. 91707
C. 71707
D. 61707
Solution: i=j/m
FV = PV(1 + i)^n
Q: Rohit wants to earn 21% profit on a belt after offering 45% discount. By how much percentage more should he mark the price of his article above the costprice?
A. 66
B. 75.45
C. 120
D. 102.5
Solution: 120
Q: Akash starts a business with Rs 85000 and Payal joins him with Rs 102000. If the profit at the end of a year is divided in the ratio 1 : 1, then after how many months did Payal join Akash?
A. 8
B. 3
C. 9
D. 2
Solution: 2
Q: If a saree is sold for Rs 1900 the seller will face 5% loss, at what price (in Rs) should he sell the saree to gain 15% profit?
A. 2400
B. 2500
C. 2200
D. 2300
Solution: 2300
Q: A grocer has a sale of Rs 6435, Rs. 6927, Rs. 6855, Rs. 7230 and Rs. 6562 for 5 consecutive months. How much sale must he have in the sixth month so that he gets an average sale of Rs, 6500 ?
A. 6453
B. 5987
C. 5467
D. 4991
Solution: Total sale for 5 months = Rs. (6435 + 6927 + 6855 + 7230 + 6562) = Rs. 34009.
 Required sale = Rs.[(6500 x 6) - 34009]
= Rs. (39000 - 34009) 
= Rs.  4991.
Q: The average of runs of a cricket player of 10 innings was 32. How many runs must he make in his next innings so as to increase his average of runs by 4 ?
A. 85
B. 76
C. 87
D. 73
Solution: Average = total runs / no.of innings = 32 
So, total = Average x no.of innings = 32 x 10 = 320.
 
Now increase in avg = 4runs. So, new avg = 32+4 = 36runs 
Total runs = new avg x new no. of innings = 36 x 11 = 396 
Runs made in the 11th inning = 396 - 320 = 76

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