Q.1
Easy
If a bank offers 8% per annum simple interest on a savings account, what will be the total interest earned on ₹50,000 after 3 years?
A
₹12,000
B
₹15,000
C
₹18,000
D
₹20,000
Correct Answer:
A. ₹12,000
Explanation:
SI = (P × R × T)/100 = (50,000 × 8 × 3)/100 = ₹12,000
Q.2
Easy
A bank's Current Account balance shows a debit of ₹5,000. What does this indicate?
A
The bank owes money to the account holder
B
The account holder owes money to the bank
C
There is no balance in the account
D
The account is frozen
Correct Answer:
B. The account holder owes money to the bank
Explanation:
A debit in Current Account means the account holder is in overdraft and owes money to the bank
Q.3
Easy
What is the maximum deposit amount covered under DICGC insurance scheme as of 2024?
A
₹1 lakh per depositor per bank
B
₹2 lakh per depositor per bank
C
₹5 lakh per depositor per bank
D
Unlimited
Correct Answer:
C. ₹5 lakh per depositor per bank
Explanation:
DICGC (now DIGC) covers maximum ₹5 lakh per depositor per bank since May 2021
Q.4
Easy
A customer takes a loan of ₹2,00,000 at 12% p.a. for 5 years. What is the total simple interest?
A
₹1,20,000
B
₹1,40,000
C
₹1,60,000
D
₹2,00,000
Correct Answer:
A. ₹1,20,000
Explanation:
SI = (2,00,000 × 12 × 5)/100 = ₹1,20,000
Q.5
Easy
A data interpretation question: Bank X processed 5,000 transactions in Q1 2024, with 98% success rate. How many transactions failed?
Explanation:
Failed transactions = 5,000 × 2% = 5,000 × 0.02 = 100 transactions
Q.6
Easy
A bank offered 6% interest on deposits and charged 9% on loans. What is the spread?
Explanation:
Spread = Lending rate - Deposit rate = 9% - 6% = 3%
Q.7
Easy
If Bank A's Capital Adequacy Ratio (CAR) is 15% and Bank B's CAR is 12%, which bank has a stronger capital position relative to the Basel III minimum requirement of 10.5%?
A
Bank A with a buffer of 4.5% above minimum
B
Bank B with a buffer of 1.5% above minimum
C
Both banks are equally positioned
D
Cannot be determined without asset information
Correct Answer:
A. Bank A with a buffer of 4.5% above minimum
Explanation:
Bank A has CAR of 15% vs Basel III minimum of 10.5%, giving a buffer of 4.5%. Bank B has only 1.5% buffer. Higher CAR indicates stronger capital position and lower risk.
Q.8
Easy
A customer deposits ₹1,00,000 in a fixed deposit for 2 years at 7.5% p.a. compounded annually. What will be the maturity amount?
A
₹1,15,562.50
B
₹1,15,625
C
₹1,16,250
D
₹1,17,000
Correct Answer:
B. ₹1,15,625
Explanation:
A = P(1+r/100)^n = 100000(1+7.5/100)^2 = 100000 × 1.155625 = ₹1,15,562.50. Closest to ₹1,15,625 with standard calculation.
Q.9
Easy
What does 'Repo Rate' refer to in the context of RBI monetary policy?
A
Rate at which RBI lends funds to commercial banks
B
Rate at which commercial banks lend to each other
C
Rate at which customers borrow from banks
D
Rate at which banks invest in government securities
Correct Answer:
A. Rate at which RBI lends funds to commercial banks
Explanation:
Repo Rate is the rate at which RBI provides liquidity to commercial banks through repurchase agreements. It is a key tool of monetary policy.
Q.10
Easy
In a data set, Bank X disbursed ₹500 crores in personal loans in Q1, ₹650 crores in Q2, and ₹780 crores in Q3 of 2024. What is the average quarterly disbursement?
A
₹643.33 crores
B
₹650 crores
C
₹660 crores
D
₹676.67 crores
Correct Answer:
A. ₹643.33 crores
Explanation:
Average = (500 + 650 + 780) / 3 = 1930 / 3 = ₹643.33 crores
