Multiple choice

Directions: Study the given information and answer the following question. The table below gives information about the accounts opened by bank from June to October and the percentage of accounts having more than Rs. 50,000 in balance out of the opened accounts. Month June July August September October Number of Accounts Opened 4500 6500 9200 3500 7500 Percent of Accounts having more than Rs. 50,000 in balance 25% 30% 32% 41% 52% What percent of accounts opened from June to October had more than Rs. 50,000 in balance?

  1. 36.4%

  2. 35.8%

  3. 34.6%

  4. None of these

  5. Can't be determined
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Total accounts = 4500+6500+9200+3500+7500 = 31200. Accounts > 50k: (0.25*4500) + (0.30*6500) + (0.32*9200) + (0.41*3500) + (0.52*7500) = 1125 + 1950 + 2944 + 1435 + 3900 = 11354. Percentage = (11354 / 31200) * 100 = 36.39%.

AI explanation

Using the percentage formula, we first calculate the exact number of accounts with more than Rs. 50,000 for each month by multiplying the accounts opened by the given percentage. The weighted total is 1125 + 1950 + 2944 + 1435 + 3900 = 11354. The total number of accounts opened across all months is 4500 + 6500 + 9200 + 3500 + 7500 = 31200. We then find the overall percentage by calculating (11354 / 31200) multiplied by 100, which equals 36.39%. The result is 36.4%.

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