BANK & INSURANCE (RATIO AND PROPORTION) PART 2

Total Questions: 70

1. Manoj started a business with Rs. 555 and was joined by Mahesh after some time with Rs. 111. When did Mahesh join after Manoj if the profits at the end of the year were divided in the ratio 15 : 12?

Correct Answer: (b) 8 months
Solution:

Let ‘x’ be the number of months for which Mahesh invested his Rs.111.

555×12x×111=151\frac{555 × 12}{x × 111} = \frac{15}{1}x×111555×12​=115​ 60x=15\frac{60}{x} = 15x60​=15

x = 4

⇒ Mahesh invested his money for 4 months, i.e. 12 − 4

= 8 months after Manoj invested his money

Mahesh joined after 8 months.

2. Ashish purchased 50 kg of grains for Rs. 710 from a grocery shop. The price of rice was Rs. 12 per kilogram and that of wheat is Rs. 17 per kilogram. Find the money he spent on rice.

Correct Answer: (d) Rs. 336
Solution:

Let Ashish purchased x kg of rice

So, quantity of wheat he purchased = (50 − x)

Now,

x × 12 + (50 − x) × 17 = 710

12x + 850 − 17x = 710

5x = 140

x = 28 kg

Money spent on rice = 12 × 28 = Rs. 336

3. A certain product R is made of two ingredients P and Q in the proportion of 3 : 5. The price of Q is 66 2/3 % of P. The overall cost of R is Rs 6.70 per kg including labour charges of Rs 2.90 per kg. Find the cost of Q per kg?

Correct Answer: (d) Rs. 3.2 per kg
Solution:

Let the price of P per kg = Rs. 3x and the price of Q per kg = Rs. 2x

⇒ Price of 1 kg of R = 3/8 × 3x + 5/8 × 2x

= 19x/8

According to the question,

6.70 − 2.90 = 19x/8

3.80 × 8 = 19x

x = Rs. 1.6

Cost of Q per kg = Rs. 1.6 × 2 = Rs. 3.2

4. The ratio between the amount A and B have before shopping is 10 : 13. After shopping for the same amount, the ratio between the amount left for A and B is 2 : 5. The total amount left with A and B after shopping is Rs. 350. Find the amount spent by A on shopping.

Correct Answer: (b) Rs. 400
Solution:

The amount left with A after shopping = 350 × 2/7 = Rs. 100

The amount left with B after shopping

= 350 − 100

= Rs. 250

 Let amount spent on shopping by A and B each be Rs. m

⇒ 10a − 100 = m
⇒ 13a − 250 = m

Then,

⇒ 10a − 100 = 13a − 250

⇒ a = 50

∴ The amount spent by A on shopping = 500 − 100 = Rs. 400

5. How many liters of a 75% alcohol solution should Rekha mix with 40 liters of a 50% alcohol solution if she wants to produce a 60% alcohol solution?

Correct Answer: (a) 26.67 liters
Solution:

40 liters of a 50% alcohol solution will contain:

Water = 20 liters
Alcohol = 20 liters

Let x liters of 75% alcohol solution is mixed with the above solution.

The 75% alcohol solution will contain:

Alcohol = 75/100 × x = 3x/4 liters

Water = x − 3x/4 = x/4 liters

New volume of mixture = (40 + x) liters

New volume of alcohol = (20 + 3x/4) liters

New volume of water = (20 + x/4) liters

∴ New concentration =

20+3x/440+x×100\frac{20 + 3x/4}{40 + x} × 10040+x20+3x/4​×100 60=80+3x40+x×10060 = \frac{80 + 3x}{40 + x} × 10060=40+x80+3x​×100

⇒ 0.6 × 4(40 + x) = 80 + 3x

⇒ 96 + 2.4x = 80 + 3x

⇒ 0.6x = 16

x = 16/0.6 = 80/3 = 26.67 liters

6. In what ratio must rice at Rs. 9.40 per kg be mixed with rice at Rs. 11.80 per kg, so that the mixture be worth Rs. 10 per kg?

Correct Answer: (d) 3 : 1
Solution:

First of all, we use given quantities and place them in the formula, to know the required quantities.

Cost of 1 kg rice of first type = Cost price of dearer = d = Rs. 11.80

Cost of 1 kg rice of second type = Cost price of cheaper = c = Rs. 9.40

Desired cost of 1 kg of the mixture = Mean price = m = Rs. 10

Required rate = Quantity of cheaper/Quantity of Dearer

=d−m / m−c

=>Quantity of cheaper/Quantity of Dearer= 11.80−10 / 10−9.40 = 1.80 / 0.60 

= 3 : 1

∴ The ratio of the mixture should be 3 : 1

7. A metal rod was cut into three parts A, B and C, such that the length of A and B are in the ratio 4 : 5, while that of B and C are in the ratio 3 : 2. If the difference between the lengths of A and C is 8 cm, find the length of the metal rod.

Correct Answer: (b) 148 cm
Solution:

A : B = 4 : 5

B : C = 3 : 2

Difference between the lengths of A and C is 8 cm

Let the lengths of A and B be 4x cm and 5x cm respectively.

Ratio of lengths of B and C = 3 : 2

5x / Length of C = 3/2

⇒ Length of C = 2/3 × 5x = 10x/3 cm

Now,

Difference between lengths of A and C = 8 cm

4x − 10x/3 = 8

12x − 10x = 24

x = 24/2 = 12 cm

∴ Length of metal rod =

4x + 5x + 10x/3

= 4(12) + 5(12) + (10/3 × 12)

= 48 + 60 + 40 = 148 cm

8. 1945 chocolates have to be divided between 12 men, 11 women, and 8 children. Each man, woman, and children gets chocolates in the ratio of 11 : 11 : 17. What is the share of men?

Correct Answer: (c) 660
Solution:

1945 chocolates have to be divided between 12 men, 11 women and 8 children in the ratio 11 : 11 : 17.

∴ Compounded ratio is (12×11) : (11×11) : (8×17)

132 : 121 : 136

The share of men = [132 / (132+121+136) ]×1945

= 132 × 5 = 660

9. Ramesh invested a certain amount in share market and gold in the ratio of 6 : 7 respectively. At the end of the year, he earned a total profit of 30% on his investment. After one year he reinvested the amount including profit in the ratio of 4 : 5 in share market and gold. If the amount reinvested in gold was Rs. 94,500, What was the original amount invested in gold?

Correct Answer: (a) Rs. 70,456
Solution:

Ratio of amount invested in share market and gold is 6 : 7

Profit earned on the investment after one year is 30%

Ratio of amount reinvested in share market and gold is 4 : 5

Amount reinvested in gold is Rs. 94,500

Since the amount reinvested is in the ratio 4 : 5

Then total amount reinvested,

(Amount of gold reinvested × total of ratio)/part of gold in ratio

(94,500 × 9)/5 = Rs. 1,70,100

Since there was a profit in this amount = 30%

So the Original amount,

(Total amount reinvested × 100)/130

= Rs. 130846

Original amount invested in gold,

(130846 × 7)/13

= Rs. 70,455.53 ≈ Rs. 70,456

∴ Original amount invested in gold is Rs. 70,456

10. When the sum of a certain amount was distributed among Radha, Sita and Ram in the ratio 2 : 3 : 4 respectively, but by mistake distributed in the ratio 7 : 2 : 5 respectively. As a result, Sita got Rs.60 Less. Find the amount?

Correct Answer: (c) Rs. 315
Solution:

Old Ratio = 2 : 3 : 4

New Ratio = 7 : 2 : 5

Now,

2 + 3 + 4 = 9 and 7 + 2 + 5 = 14

We will have to make both the ratios equal, So multiplying 1st ratio by 14 and 2nd by 9 we get

Old Ratio = 2 × 14 : 3 × 14 : 4 × 14

= 28 : 42 : 56

New Ratio = 7 × 9 : 2 × 9 : 5 × 9

= 63 : 18 : 45

Sum will be 126

Earlier Sita gets 42 units and now 18 units

Difference = 42 − 18 = 24 units (which is given as Rs.60 in the question)

24 units = 60

1 unit = 60/24 = 2.5

126 units = Rs. 315