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SBI Clerk Interest — practice questions — page 4

Explore 105 free Interest questions in SBI Clerk Quantitative Aptitude. Open each question or exercise to read its content, reference answers and available explanation.

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Interest questions and exercises with answers

Showing questions 91–105 of 105.

A 6,000 rupee loan at 5 per cent for 2 years has a payoff of:Read the answer and worked solution →For a loan quoted in days, the daily rate divides the annual rate by:Read the answer and worked solution →The day count convention described as Actual is paired with:Read the answer and worked solution →Some banks instead treat a year as having how many days?Read the answer and worked solution →Using 360 rather than 365 days makes the interest charged:Read the answer and worked solution →Money the depositor earns from a bank account is also called:Read the answer and worked solution →The total value of an investment after interest is added is its:Read the answer and worked solution →Match each term to what it meansRead the answer and worked solution →Work out the simple interestRead the answer and worked solution →True or false about simple interestRead the answer and worked solution →Order the steps of a loan calculationRead the answer and worked solution →Fill the gaps on interestRead the answer and worked solution →Pick the right answer, quicklyRead the answer and worked solution →Does it raise the interest or lower it?Read the answer and worked solution →Spot the one that does not fitRead the answer and worked solution →

Worked practice questions

A 6,000 rupee loan at 5 per cent for 2 years has a payoff of:

  1. 7,200 rupees
  2. 6,600 rupees
  3. 6,300 rupees
  4. 6,900 rupees
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Correct answer: B. 6,600 rupees

1. One year of interest is 300 rupees. 2. Two years give 600 rupees. 3. Payoff is 6,000 plus 600, that is 6,600 rupees. _Source: OpenStax 'Contemporary Mathematics', Ch 6 'Money Management' (CC BY)_

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For a loan quoted in days, the daily rate divides the annual rate by:

  1. 465
  2. 185
  3. 365
  4. 265
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Correct answer: C. 365

1. A year is taken as this many days. 2. The convention is called Actual by 365. 3. The annual rate is divided by 365. _Source: OpenStax 'Contemporary Mathematics', Ch 6 'Money Management' (CC BY)_

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The day count convention described as Actual is paired with:

  1. 265
  2. 465
  3. 185
  4. 365
Show answer and solution

Correct answer: D. 365

1. The name states the denominator directly. 2. It uses the real number of days in a year. 3. It is Actual by 365. _Source: OpenStax 'Contemporary Mathematics', Ch 6 'Money Management' (CC BY)_

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More Quantitative Aptitude topics

Simple InterestSquare RootsSimple & Compound InterestMensurationPercentagesShortcutsSquares And RootsMultiplication