BANK & INSURANCE (PERCENTAGE) PART 1

Total Questions: 60

41. Shobha's Mathematics test had 75 problems i.e. 10 arithmetic, 30 algebra and 35 geometry problems. Although she answered 70% of the arithmetic, 40% of the algebra and 60% of the geometry problems correctly, she did not pass the test because she got less than 60% of the problems right. How many more questions she would have needed to answer correctly to earn a 60% passing grade?

Correct Answer: (c) 5
Solution:

Number of questions attempted correctly
= (70% of 10 + 40% of 30 + 60% of 35)
⇒ (7 + 12 + 21) = 40.
Questions to be answered correctly for 60% grade
= 60% of 75 = 45.
So, Required number of questions = (45 - 40) = 5.

42. Fourty-five percent of a number is 30 less than three-fifth of that number. What is the number?

Correct Answer: (d) 200 
Solution:

Let the number be x.
Then, (3x/5) - (45% of x) = 30
⇒ (3x/5) - (45x/100) = 30
⇒ 15x = 3000
⇒ x = 200.

43. Mr. Keisham gave 40% of the money he had, to his wife. He also gave 20% of the remaining amount to each of his three sons, Half of the amount now left was spent on miscellaneous item and the remaining amount of Rs. 12,000 was deposited in the bank. How much money did Mr. Keisham have initially?

Correct Answer: (c) 1,00,000
Solution:

Let the initial amount with Mr. Keisham be Rs. x.
Then, ½ [100 - (3 × 20)]% of (100 - 40)% of x
= 12000

⇒ ½ × 40/100 × 60/100 × x = 12000
⇒ 3/25 × x = 12000
⇒ x = 12000 × 25 / 3 = 100000

44. When the price of a product was decreased by 10%, then the number of sell increased by 30%. What was the effect on the total revenue?

Correct Answer: (d) 17% 
Solution:To solve this question, we can apply a short trick approach;
Net% effect = (x + y + xy/100)%
Increase or decrease, according to the +ve or -ve sign respectively.
Given; Price Increased = x = 30%
Price Decreased = y = - 10%
By the short trick approach, we get
= (30 - 10 - 30 × 10/100) = 17%

45. If the numerator of a fraction be increased by 15% and its denominator be diminished by 8%, the value of the fraction is 15/16. Find the original fraction.

Correct Answer: (c) 3/4
Solution:Let the original fraction be x/y
Then, 115% of x / 92% of y = 15/16
⇒ 115x / 92y = 15/16
⇒ x/y = 15/16 × 92/115 = 3/4

46. The population of a town is 1,76,400. If it increase at the rate of 5% per annum, what will be its population 2 years hence? What was it 2 years ago?

Correct Answer: (a) 1,94,481 and 1,60,000 
Solution:Population after 2 years = 176400 × (1 + 5/100)²
= 194481
Population 2 years ago = 176400 / (1 + 5/100)² = 160000

47. In the new budget, the price of refined oil rose by 25%. By how much percent must a person reduce his consumption so that his expenditure on it does not increase?

Correct Answer: (b) 20% 
Solution:Where R => the rose price of refined oil = 25%
Reduction in consumption = [R / (100 + R) × 100%]
⇒ (25 / 125 × 100) % = 20%

48. Deepika's salary was decreased by 50% and subsequently increased by 50%. How much percent does she lose?

Correct Answer: (d) 25% 
Solution:To solve this question, we can apply a short trick approach;
Net% effect = (x + y + xy/100)%
Increase or decrease, according to the +ve or -ve sign respectively.
Given; Increased Number = x = 50%
Decreased Number = y = - 50%
By the short trick approach, we get
= (50 - 50 - 50 × 50/100) = -25%

49. The monthly income of a person was reduced by 10%. By what percent should his reduced monthly income be raised so as to bring it at par with his original income?

Correct Answer: (c) 11 1/9 %
Solution:Let the original monthly income be Rs. 100,
New income = Rs. 90.
Increase on 90 (new income) = 10.
Then, Increase on 100 = (10/90 × 100)% = 11⅑%

50. Virat spent 14% of his income on electricity bills, 28% on rent and 18% on shopping. ¼ of the remaining amount is Rs. 5125. How much did he spend on electricity bill?

Correct Answer: (a) 7175 
Solution:Remaining = 100x - (14x + 28x + 18x) = 40x
Amount = ¼ × 40x = 5125
x = 512.5
Electricity Bill = 512.5 × 14 = 7175