A bank offers 6% per annum interest which is calculated and added at the end of the year. Another bank offers 10% per annum which is calculated and added every six months. What is the difference on a deposit of $100 after one year?
Answer: E
Explanation: At the bank paying 6%, the amount will be $106 ($100 * 1.06) at the end of the first year. At the bank paying 10% the amount will be $105 ($100 * 1.05) at the end of the first six months and $110.25 ($105 * 1.05) at the end of the year. Therefore the difference will be $4.25.
It costs a manufacturer X dollars per component to make the first 3,000 components. All subsequent components cost one quarter of X each. When X = $2.70 How much will it cost to manufacture 4,000 components?
Answer: B
Explanation: The first 3000 components are $2.70 each which gives $8,100. The 1000 subsequent components cost $0.67 each which gives $670. Therefore the run of 4000 components will cost $8,770.
Identify the missing number
1 1 1 3 ? 2 1 0 2 2
Explanation: The numbers in the bottom row add up to 7. Therefore the answer must be 1 to make the numbers in the top row add up to 7. Note that the presence of three 1’s in the top row beneath different numbers offers a strong hint that the relationship can not be between corresponding numbers in the top and bottom rows.
3 12 90 24 9 7 28 210 ? 21
Answer: C
Explanation: The numbers which are one above the other are read as fractions then they are all equal. Therefore the correct answer is 56.
Identify the missing number.
41 48 33 40 62 55 54 ?
Explanation:Starting from the box on the top left, move clockwise adding 7 each time. The answer is 47 which is 40 + 7.
