RBC Assessment: Numerical Reasoning 2

Question 1

A portfolio grew from $45,000 to $54,000 over one year. What was the percentage increase?

Accepted Answer

20%

Answer

Percentage increase = (54,000 − 45,000) / 45,000 × 100 = 9,000 / 45,000 × 100 = 20%.

Question 2

A bank branch processed 1,200 transactions in March and 1,050 in April. What is the ratio of April to March transactions in simplest form?

Accepted Answer

7:8

Answer

1,050 : 1,200 simplifies by dividing both by 150, giving 7 : 8.

Question 3

If an investment yields 4.5% annual simple interest, how much interest does $8,000 earn in 3 years?

Accepted Answer

$1,080

Answer

Simple interest = Principal × Rate × Time = 8,000 × 0.045 × 3 = $1,080.

Question 4

A table shows quarterly revenues: Q1 = $2.4M, Q2 = $2.8M, Q3 = $3.1M, Q4 = $2.9M. What is the average quarterly revenue?

Accepted Answer

$2.80M

Answer

Total = 2.4 + 2.8 + 3.1 + 2.9 = 11.2M; average = 11.2 / 4 = $2.80M.

Question 5

A loan of $15,000 is repaid in 36 equal monthly installments of $480. How much total interest is paid?

Accepted Answer

$2,280

Answer

Total repaid = 36 × $480 = $17,280; interest = $17,280 − $15,000 = $2,280.

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