Averages for Bank Exams

By : Akash Mishra

Updated : Oct 15, 2020, 0:02

An average or arithmetic mean of n number of elements is given as:

Average = sum of all elements/ total number of elements

Hence, the method of solving Averages problems in bank exams is dividing the total sum of all numbers by the total number of elements.

Example: The total age of a set of 2000 employees in a software company is 46,000. What is the average age of a single employee?

Solution: Total sum of all ages= 46,000

Total number of employees=2000

By formula, average age= 46000/2000=23

Hence, the average age of an employee is 23 years.

Deviation

The deviation is the change of any value from a reference. Concerning averages topics in bank exams, the deviation is calculated on the basis of the old average. To find the deviation in any question, the formula is ;

Deviation =(new average- old average)* total number of terms

Example: The new average age of 2000 employees after replacing a certain number of employees is 24. Find the deviation of the age, if the old average was 23.

Solution: Old average= 23

new average= 24

total employees=2000

deviation= (24-23)*2000= 2000

Hence, the new employees have relatively higher age.

Tips to Solve Averages Questions

Always try to find out all the given values first.
Always look for the total number of elements if no value is given.
Try to learn the commonly used formulae for understanding the Averages quiz for bank exams.
Use the modification of formulas that might help to find other values.

Importance of Averages Questions in the Quantitative Section of Competitive Banking & Government Exams

Averages syllabus for bank exams is purely application based and has direct use of concepts in real-life situations.
Bank exams hold a weightage of 3%-7% of questions from averages.
The quizzes for bank exams can be tricky and scoring too at the same time.
It is often considered important to check the mental capabilities of a candidate to solve complex problems.

Most Recommended Books for Averages Questions [Bank Exams]

The syllabus for averages in bank exams is vast and can take a lot of time to prepare. However, there is a list of books that can provide quality content and questions that will help you to achieve success in bank exams. The following are the books that contain the best of content for averages. :

Book Name	Author	Features
Quantitative Aptitude For Competitive Examinations	R S Aggarwal	This book includes the best quiz for averages in bank exams. All the formulas are given on a single page for easy revision.
Fast Track Objective Arithmetic	Rajesh Verma	This book contains all the problems regarding averages in bank exams.. Solutions are provided after every question with an explanation.

Why prepare Averages from BYJU'S Exam Prep?

BYJU'S Exam Prep is the revolution of old-style studying to modern tech-based teaching. We have the best study material curated by experienced teachers and professors that have taught students for years for various competitive exams. The content at BYJU'S Exam Prep is highly verified and researched by various editors proficient in their tasks. All the latest updates regarding the syllabus, exam pattern and topics are available on BYJU'S Exam Prep that will help you to stay updated. You can crack every examination and live the dream life by preparing with BYJU'S Exam Prep.

FAQs

What are the problems based on Averages in bank exams?

The Averages problems in bank exams are the ones that include the calculation of arithmetic mean for a set of data. The Averages quiz in bank exams includes problems like the average salary problem, salesman problem, and other problems that are included in the syllabus for bank exams.

What are the tricks for Averages in bank exams?

The Averages tricks in bank exams include learning of the formulae and terminology. The formula of average is enough to derive all the constituent values of the total sum and the total number of values. Try to modify the formula as per the requirement in the question.

Where can I find good content for the Averages Quiz for bank exams?

The internet has a lot of websites featuring the Averages Quiz for bank exams but only a few can correctly guide through. The best content for bank exams is available in BYJU'S Exam Prep with verified features and authentic content. .

How do we solve average problems in bank exams when the total sum is not given?

To find out the total sum from the given value of average, use the formula:

Total sum= average *total number of values

The above formula is derived from the original formula of average.