BMO BMO Numerical Reasoning & Data Interpretation 2 — Questions and Answers
Question 1: A customer's account statement shows a beginning balance of $3,200, deposits totaling $4,750, and withdrawals totaling $5,100. What is the ending balance?
- $2,750
- $2,850 (Correct answer)
- $3,100
- $2,600
Correct answer: $2,850
Ending balance = Beginning balance + Deposits − Withdrawals = $3,200 + $4,750 − $5,100 = $2,850.
Question 2: A BMO personal loan of $15,000 is offered at 7.2% annual interest over 36 months. Using simple interest, what is the total amount of interest paid over the loan term?
- $2,700
- $3,240 (Correct answer)
- $1,080
- $2,160
Correct answer: $3,240
Total simple interest = Principal × Rate × Time = $15,000 × 0.072 × 3 = $3,240.
Question 3: A data table shows a BMO branch's new account openings over four weeks: Week 1: 48, Week 2: 55, Week 3: 43, Week 4: 62. What is the average number of new accounts opened per week?
- 50
- 52 (Correct answer)
- 54
- 56
Correct answer: 52
Average = (48 + 55 + 43 + 62) ÷ 4 = 208 ÷ 4 = 52.
Question 4: A BMO customer's credit card has a $8,500 balance with a 19.99% annual percentage rate (APR). Approximately how much interest accrues in one month?
- $100.08
- $141.59 (Correct answer)
- $85.00
- $170.00
Correct answer: $141.59
Monthly interest = $8,500 × (0.1999 ÷ 12) = $8,500 × 0.016658 ≈ $141.59.
Question 5: A chart shows BMO branch satisfaction scores over 5 months: Jan 82%, Feb 85%, Mar 79%, Apr 88%, May 91%. What is the range of satisfaction scores shown?
- 9%
- 10%
- 12% (Correct answer)
- 14%
Correct answer: 12%
Range = Maximum score − Minimum score = 91% − 79% = 12%.
Question 6: A business loan requires a down payment of 20% on a $250,000 property. Additionally, closing costs are estimated at 3% of the purchase price. What is the total upfront cash required?
- $50,000
- $55,000
- $57,500 (Correct answer)
- $60,000
Correct answer: $57,500
Down payment = 20% × $250,000 = $50,000; Closing costs = 3% × $250,000 = $7,500; Total = $50,000 + $7,500 = $57,500.
BMO BMO Numerical Reasoning & Data Interpretation 2
A customer's account statement shows a beginning balance of $3,200, deposits totaling $4,750, and withdrawals totaling $5,100.
What is the ending balance?