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- Question
A merchant receives an invoice for a motor boat for $20 000 with terms 4/30, n/100. What is the highest simple interest rate at which he can afford to borrow money in order to take advantage of the discount?
Options- A. 247.67
- B. 237.67
- C. 227.67
- D. 215.67
- Correct Answer
- 247.67
ExplanationSuppose the merchant will take advantage of the cash discount of 4% of $20 000 = $800 by paying the bill within 30 days from the date of invoice. He needs to borrow $20 000 = $800 = $19 200. He would borrow this money on day 30 and repay it on day 100 (the day the original invoice is due) resulting in a 70-day loan. The interest he should be willing to pay on borrowed money should not exceed the cash discount $800.
r=I/pt=21.73%
The highest simple interest rate at which the merchant can afford to borrow money is 21.73%. This is a break-even rate. If he can borrow money, say at a rate of 15%, he should do so. He would borrow $19 200 for 70 days at 15%. Maturity value of the loan is $19 200(1+0.15(70/365))=$19 752.33
savings would be $20 000 ? $19 752.33 = $247.67
- 1. Two numbers A and B are such that the sum of 5% of A and 4% of B is two-third of the sum of 6% of A and 8% of B. Find the ratio of A : B.
Options- A. 2 : 3
- B. 1 : 1
- C. 3 : 4
- D. 4 : 3 Discuss
- 2. A train 240 m long passes a pole in 24 seconds. How long will it take to pass a platform 650 m long?
Options- A. 65 sec
- B. 89 sec
- C. 100 sec
- D. 150 sec Discuss
- 3. What was the day of the week on 17th June, 1998?
Options- A. Monday
- B. Tuesday
- C. Wednesday
- D. Thursday Discuss
- 4. The H.C.F. of two numbers is 11 and their L.C.M. is 7700. If one of the numbers is 275, then the other is:
Options- A. 279
- B. 283
- C. 308
- D. 318 Discuss
- 5. 1872/ ? ? = 234
Options- A. 324
- B. 64
- C. 8
- D. 256 Discuss
- 6. For every 4 leaps taken by a dog, a cat takes 5 leaps in the same time. But distance covered in 3 leaps of dog is same as that of 4 leaps of cat. Then what is the ratio of speed of dog and cat?
Options- A. 15 : 14
- B. 16 :15
- C. 12 :11
- D. 10 : 9 Discuss
- 7. A come of height 7 cm and base radius 3 cm is curved from a rectangular block of wood 10 cm x 5 cm x 2 cm. The percentage of wood wasted is?
Options- A. 34%
- B. 46%
- C. 54%
- D. 66% Discuss
- 8. 1, 9, 25, 49, 81,?
Options- A. 90
- B. 135
- C. 121
- D. 125 Discuss
- 9. An accurate clock shows the time as 3:00 after hour hand has moved 135°, the time would be?
Options- A. 7:30
- B. 6:30
- C. 8:00
- D. 9:30 Discuss
- 10. P.V. Narsihma Rao was elected party leader on 29th may, 1991. What was the day of the week?
Options- A. Tuesday
- B. Friday
- C. Wednesday
- D. Sunday Discuss
More questions
Correct Answer: 4 : 3
Explanation:
| 5% of A + 4% of B = | 2 | (6% of A + 8% of B) |
| 3 |
| ⟹ | 5 | A + | 4 | B | = | 2 | ❨ | 6 | A + | 8 | B | ❩ |
| 100 | 100 | 3 | 100 | 100 |
| ⟹ | 1 | A + | 1 | B | = | 1 | A + | 4 | B |
| 20 | 25 | 25 | 75 |
| ⟹ | ❨ | 1 | - | 1 | ❩ A = | ❨ | 4 | - | 1 | ❩ B |
| 20 | 25 | 75 | 25 |
| ⟹ | 1 | A = | 1 | B |
| 100 | 75 |
| A | = | 100 | = | 4 | . |
| B | 75 | 3 |
∴ Required ratio = 4 : 3
Correct Answer: 89 sec
Explanation:
| Speed = | ❨ | 240 | ❩m/sec = 10 m/sec. |
| 24 |
| ∴ Required time = | ❨ | 240 + 650 | ❩sec = 89 sec. |
| 10 |
Correct Answer: Wednesday
Explanation:
17 th June, 1998 = (1997 years + Period from 1.1.1998 to 17.6.1998)
Odd days in 1600 years = 0
Odd days in 300 years = (5 x 3) ≡ 1
97 years has 24 leap years + 73 ordinary years.
Number of odd days in 97 years ( 24 x 2 + 73) = 121 = 2 odd days.
Jan. Feb. March April May June (31 + 28 + 31 + 30 + 31 + 17) = 168 days
∴ 168 days = 24 weeks = 0 odd day.
Total number of odd days = (0 + 1 + 2 + 0) = 3.
Given day is Wednesday.
Correct Answer: 308
Explanation:
| Other number = | ❨ | 11 x 7700 | ❩ | = 308. |
| 275 |
Correct Answer: 64
Explanation:
Let 1872/?N = 234.
Then ?N = 1872/234 = 8
? N = 8 x 8 = 64
Correct Answer: 16 :15
Explanation:
Let distance covered by dog in 1 leap is x and
Distance covered by cat in 1 leap is y
Then, 3x = 4y
? x= 4/3y
Now, Ratio of speed of dog and cat = Ratio of distance covered by them in the same time = 4x : 5y
= 16/3y : 5y
= 16 : 15
Correct Answer: 34%
Explanation:
Total volume of cuboid = (10 x 5 x 2) cm3
= 100 cm3
Volume curved = 1/3 x (22/7) x 3 x 3 x 7 cm3
= 66 cm3
% of wood wasted = (100 - 66)% = 34 %
Correct Answer: 90
Explanation:
Series pattern
12, 32, 52, 72, 92, 112
So missing term = 112 = 121
Correct Answer: 7:30
Explanation:
Angle of 360° is covered by hour hand in 12 h .
So, angle of 135° is covered by hour hand in 12/360° x 135° = 4.5 h
Thus, required time = (3 + 4.5)h = 7.5 h = 7 : 30
Correct Answer: Wednesday
Explanation:
Try yourself. It was Wednesday.
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