BANK & INSURANCE (PERCENTAGE) PART 1

Total Questions: 60

51. The production of a company has ups and downs every year. The production increases for two consecutive years consistently by 15% and in the third year it decreases by 10%. Again in the next two years it increases by 15% each year and decreases by 10% in the third year. If we start counting from the year 1994 approximately what will be the effect on the production of the Company in 1998?

Correct Answer: (a) 37% increase 
Solution:Suppose the production of the company in the year 1994 be x.
Then production of the company in year 1998
= x × (115/100) × (115/100) × (90/100) × (115/100) = 1.368x
∴ Increase % in the production in year 1998
= (1.368x - x)/x × 100 = 36.8% ≈ 37%

52. A man earns x% on the first Rs. 2,000 and y% on the rest of his income. If he earns Rs. 700 from Rs. 4,000 and Rs. 900 from Rs. 5,000 of income, find x%.

Correct Answer: (b) 15% 
Solution:As per the given information, two equations can be written
2000 ( x/100 ) + 2000 ( y/100 ) = 700 …(i)
2000 ( x/100 ) + 3000 ( y/100 ) = 900 …(ii)
The equations can be simplified to x + y = 35 and 2x + 3y = 90.
After solving these equation, we get x = 15%

53. Anushka spends 25% of her monthly income on household expenses. Her annual income is Rs. 4.32 lac. What is the total amount that Anushka spends on house hold expenses in 8 months together?

Correct Answer: (d) Rs. 72000 
Solution:According to question, we get
⇒ 25% of 4.32 lac × 8 / 12
⇒ 25×432000×8 / 12×100
⇒ 72000

54. Reshma's monthly income is 22% more than Neelam's monthly income. If Neelam's monthly income is Rs. 3500. What is the Reshma's monthly income?

Correct Answer: (a) Rs. 4270 
Solution:Let the Reshma's monthly income be x, then, 122% of 3500 = x
⇒ x = 122 × 3500 / 100 = 4270

55. Sohan spends 23% of an amount of money on an insurance policy, 33% on food, 19% on children's education and 16% on recreation. He deposits the remaining amount of Rs. 504 in bank. How much total amount does he spend on food and insurance policy together?

Correct Answer: (c) Rs. 3136
Solution:

Let the total amount be ₹x Total expenditure
= (23 + 33 + 19 + 16) % = 91% Remaining money
= (100 - 91) %
% of x = 504
⇒ 9% of x = 504
⇒ x = 504 × 100 / 9 = Rs. 5600

Now, total money (food + insurance) %
= (23 + 33)% of x
= 56% of x = 56% of 5600
= Rs. 3136.

56. The salary of an employee of a company increases every month by 4%. If his salary in August was Rs. 6300. What would be his approximate salary in month of October of the same year?

Correct Answer: (c) Rs. 6814
Solution:

To solve this question, we can apply a net% effect formula
Net% effect = x + y + xy/100
x = 4% for September increment
y = 4% for October increment
Now, apply the net% effect formula

⇒ 4 + 4 + (4×4)/100 = 8.16%
October month salary = (100 + 8.16) % of 6300
= 108.16×6300 / 100 = 6814.08 ≈ 6814

57. Priyanka's monthly income is 90% of Vandana's monthly incomes. The total of both their monthly income is Mr Sen's monthly income. Mr Sen's annual income is Rs. 775200. What is Priyanka's monthly income?

Correct Answer: (c) Rs. 30600
Solution:Mr Sen's monthly income = 725200 / 12 = 64600
According to the question,
⇒ Priyanka / Vandana = 90 / 100 = 9:10
⇒ Priyanka's salary = 9/19 × 64600 = Rs. 30600

58. In a test, Rajesh got 112 marks which was 32 more than the passing marks. Sonal got 75% marks which was 70 more than the passing marks. What is the minimum passing percentage of the test?

Correct Answer: (c) 40%
Solution:Let the maximum marks be x.
According to the question,
75x/100 − 70 = 112 − 32
⇒ 3x/4 = 80 + 70
⇒ 3x = 150 × 4 = 600
⇒ x = 200
Passing marks = 112 − 32 = 80
(As Rajesh got 112 marks which is 32 more than the passing marks.)
= 80/200 × 100 = 40%

59. Anish spends 25% of his salary on house rent, 5% on food, 15% on travel, 10% on clothes and the remaining amount of Rs. 22500 is saved. What is Anish's salary?

Correct Answer: (d) Rs. 50000 
Solution:Remaining salary percent = [100 − (25 + 5 + 15 + 10)] = 100 − 55 = 45%
Let the total salary of Anish be x.
Then, According to the question, 45% of x = 22500
⇒ x = 22500 / 45 × 100 = Rs. 50000

60. In an office, 40% of the staff is female. 40% of the female and 60% of the male voted for me. The percentage of vote I got was

Correct Answer: (d) 52 
Solution:Let the total number of staff be 100.
∴ Female staff = 40 Male staff = 100 − 40 = 60
Votes cost by females = 40/100 × 40 = 16
Votes cost by males = 60/100 × 60 = 36
Votes cost by both (males + females)
= 16 + 36 = 52%