RBI Assistant Prelims 26 Mar 2022 Shift 2 Paper

Question Numbers: 13-17
Direction: The passage given contains blanks, choose the best choice in each case from the words in the options and mark your answer accordingly.
Suppose you put 100inasavingsaccountthatearns10%interesteachyear,afterfiveyearshowmuchwillyouhave?Thiswasaquestionposedinamultiple‐choicequizbyStandardandPoor′s,aratingagency.Theanswers(1)were"lessthan150", "exactly 150"and"morethan150". The intention was to test whether respondents ____(2)___ compound interest, in addition to basic mathematics. Alas, not that many did: just one‐third of them answered three out of five similar multiple‐choice questions ____(3)___. Scandinavians are the most financially literate: 70% were able to answer three questions; the corresponding figure for Angolans and Albanians was 15%. While education plays a large role in ____(4)___ financial literacy, the link with GDP per person is also remarkably strong. Research shows that in developed countries, knowledge ____(5)___ a U shaped curve with middle-aged adults performing best while in developing countries financial literacy is best among the young. But worryingly many countries remain in a 1960s time warp.