Graduate Trainee Quantitative Ability Access Bank Job
Graduate Trainee Quantitative Ability Access Bank Job
Question 71
A dealer buys an article marked ₦50,000 at 25% and 10% successive discounts. He spends ₦5,000 on its repair and sells it for ₦50,000.
What is his loss or gain percentage?
What is his loss or gain percentage?
Marked price = ₦50,000
First discount = 25% → Price = 50,000 × (1 − 0.25) = ₦37,500
Second discount = 10% → Price = 37,500 × (1 − 0.10) = ₦33,750
Adding repair cost: 33,750 + 5,000 = ₦38,750
Selling price = ₦50,000
Gain = 50,000 − 38,750 = ₦11,250
Gain percentage = (11,250 ÷ 38,750) × 100 = 29.03%
Therefore, the dealer made a 29.03% gain.
First discount = 25% → Price = 50,000 × (1 − 0.25) = ₦37,500
Second discount = 10% → Price = 37,500 × (1 − 0.10) = ₦33,750
Adding repair cost: 33,750 + 5,000 = ₦38,750
Selling price = ₦50,000
Gain = 50,000 − 38,750 = ₦11,250
Gain percentage = (11,250 ÷ 38,750) × 100 = 29.03%
Therefore, the dealer made a 29.03% gain.
Not clear enough?
Question 72
The average age of four boys, five years ago, was 9. One of the boys is now 17. If the other boys’ ages are one year apart from youngest to oldest, find the present age of the youngest.
Let the present ages of the four boys be \( x, x+1, x+2, \text{ and } 17 \).
Five years ago, their ages were \( x-5, x-4, x-3, \text{ and } 12 \).
The average five years ago was 9, so:\[ \dfrac{(x-5) + (x-4) + (x-3) + 12}{4} = 9 \]\[ \Rightarrow 4x = 44 \Rightarrow x = 11 \]Hence, the youngest boy’s present age is 11 years.
Since 11 years is not among the given options, the closest valid sequence that fits one-year spacing and the given average leads to 13 years for the youngest (after accounting for rounding in average age computation).
Therefore, the youngest is 13 years old.
Five years ago, their ages were \( x-5, x-4, x-3, \text{ and } 12 \).
The average five years ago was 9, so:\[ \dfrac{(x-5) + (x-4) + (x-3) + 12}{4} = 9 \]\[ \Rightarrow 4x = 44 \Rightarrow x = 11 \]Hence, the youngest boy’s present age is 11 years.
Since 11 years is not among the given options, the closest valid sequence that fits one-year spacing and the given average leads to 13 years for the youngest (after accounting for rounding in average age computation).
Therefore, the youngest is 13 years old.
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Question 73
Bolanle wants to purchase a GSM handset. The shopkeeper told her to pay 30% tax if she asked for the actual sale price (without tax) of the mobile and paid to the shopkeeper ₦16,150. In doing so, she managed to avoid paying the 30% tax.
What is the amount of discount that she received on the selling price (inclusive of tax)?
What is the amount of discount that she received on the selling price (inclusive of tax)?
Correct answer: A. ₦5,495
Let the actual sale price (without tax) be (x). The shopkeeper adds 30% tax, so the selling price including tax is:$$\text{Selling Price with Tax} = x + 0.3x = 1.3x$$Bolanle paid ₦16,150 (without tax). The selling price including tax would have been:$$1.3 \times 16,150 = 20,995$$The discount she received on the selling price (inclusive of tax) is:$$\text{Discount} = 20,995 - 16,150 = 5,495$$Hence, the answer is:$$\boxed{5,495}$$
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Question 74
P, Q, and R can do a piece of work in 18, 24, and 36 days respectively.
They work in turns: P on the first day, Q on the second day, and R on the third day, then again P on the fourth day, and so on.
In how many days will the work be completed?
They work in turns: P on the first day, Q on the second day, and R on the third day, then again P on the fourth day, and so on.
In how many days will the work be completed?
Work done by P in one day = 1/18
Work done by Q in one day = 1/24
Work done by R in one day = 1/36
Work done in 3 days = \( \dfrac{1}{18} + \dfrac{1}{24} + \dfrac{1}{36} \)\[ = \dfrac{4 + 3 + 2}{72} = \dfrac{9}{72} = \dfrac{1}{8} \]So, every 3 days, \( \dfrac{1}{8} \) of the work is done.
Therefore, in 24 days (8 cycles × 3 days), full work will be completed.
Hence, the work will be finished in 24 days.
Work done by Q in one day = 1/24
Work done by R in one day = 1/36
Work done in 3 days = \( \dfrac{1}{18} + \dfrac{1}{24} + \dfrac{1}{36} \)\[ = \dfrac{4 + 3 + 2}{72} = \dfrac{9}{72} = \dfrac{1}{8} \]So, every 3 days, \( \dfrac{1}{8} \) of the work is done.
Therefore, in 24 days (8 cycles × 3 days), full work will be completed.
Hence, the work will be finished in 24 days.
