Data interpretation is gaining a lot of importance because of the ever-increasing use and collection of data. Data interpretation can be defined as a process where data is analyzed well using various sets of methods or techniques and then arriving upon meaning, inference, or conclusion.
The data analysts use the data from various sources, analyze, and then present it in an appropriate manner, which can be easily understood. So, being able to interpret the data is a prerequisite. It comprises a fair weightage for various aptitude tests or entrance exams for banks such as SBI PO, Clerk role for the bank, IBPS RRB Clerk, RBI Grade A, B, NABARD Grade A & B, LIC AAO, etc. The Data Interpretation notes for Bank PO is as follows.
Data Interpretation Topics for Bank Exams
Tables are used to present numerical data. It is the easiest and accurate way of presenting the data. We can understand the information quickly by having a glance over it.
A bar graph can have horizontal or vertical bars. We can compare either the same or different quantities at different times.
Thee bar’s height or the line is divided up proportionally among various quantities presented in a graph, which may be in percentage or absolute numbers.
They are used to show how a quantity changes continuously. The pattern of the line is observed.
They are used to show the share of the various sectors in the total.
Data Interpretation pie chart formula:
Sector angle= Class frequency/ Total Frequency*360 ̊.
Many times, a combination of two similar or, in rare cases, different graphs or charts are used to present the data and analyse it.
It means whether the given set of data and statements are sufficient enough to answer the questions that have been asked or not.
Tips to Prepare for Data Interpretation questions
- Master basic calculations- Calculations such as addition, multiplication, subtraction, division, etc. should be practised. If you are quick with it, you will save a lot of time.
- Practice more often- DI questions are easy but time-consuming, so the more you practice, the faster you can solve.
- Approximate the values- Try to approximate the value to the near 100 or 1000, etc. which will help you to perform calculations quickly.
- Understand the data set well- May times, it happens that the answer is readily available from the data set, and we need not perform any calculations.
- Managing time- If you feel that the DI is taking a lot of time, then be ready to switch to the next question and do not waste a lot of time.
- Master the squares and the roots- Keep recalling the squares, the square roots, the cube, cube roots, etc. till you learn them well, and it will help in solving few calculations easily.
Importance of Data Interpretation in Quantitative Section of Competitive Banking Exams
- Easy scoring- They involve tedious calculations but are easy to score if you have speed over the same.
- One Table, many questions- This will lead to solving the data set once and answering 4-5 questions helping to score more.
- Balancing out other quantitative section topics- If you are good with DI, then you may skip 2-3 questions in that section.
- More weightage- DI is given more weightage than any other topic in this section.
Best Books for Data Interpretation (DI)
Now, as you all know the importance of Data Interpretation and how one can score more by practising it well, the below is the list of books that are highly recommended for DI which have data interpretation pie chart formula, questions with solutions and tricks. Also, they have Data Interpretation solved examples for bank exams.
Nishit K. Sinha
Quantitative Aptitude & Data Interpretation- Solved Papers for IBPS/SBI Bank PO/Clerk Prelim & Main Exams.
Why prepare Data Interpretation from BYJU'S Exam Prep?
We know that BYJU'S Exam Prep is one of the largest websites for preparations for bank exams. Having live classroom sessions along with daily study plan, detailed material for preparation like data interpretation pdf for bank exams, 24*7 assistance, mock tests, etc. BYJU'S Exam Prep will prepare you efficiently to crack any Bank entrance examination with the help of a data interpretation quiz for bank PO and bank exams within a short period. We also have detailed solutions and performance analysis, along with the whole test series designed by experts. Also, all the papers of the various entrance exams of previous examinations are easily accessible. We also have Data Interpretation questions in Hindi for bank exams.
After knowing the Data Interpretation topic in brief, we can conclude that DI is a topic that is commonly asked in the bank exams having good weightage in the quantitative section and easy scoring at times, which can be
FAQs Related to DI Questions
Let us take an example of a tabular data which consists of 5 questions-
Directions (1-5) These questions are answered based on the following table giving the bank rates for 100 units of various foreign currencies converted to Indian rupees.
Q. How many currencies have the difference between buying and selling rates more than Rs. 35?
a.2 b.3 c.4 d.5
Q. Which foreign currency has a difference between the rates for selling and buying equivalent to the buying rate of one unit of that currency?
- Swiss Franc
Q. A man wants to convert Rs. 10,000 into foreign currency. He wants to buy the foreign currency, which gives him the maximum number of units. Which currency should he buy?
- Pound b. Dirham c. Yen d. Franc
Q. What is the approximate ratio of the buying rate of AUD of that to the U.S. Dollar?
a.15 b.1.02 c.1.09 d.0.67
Q. If RBI wants to buy 100 Pounds and 200 Dirham, how much money in rupees is given to the seller of the foreign currency?
- Rs. 3,382 b. Rs. 6,421 c. Rs. 4,621 d. Rs. 6,382
- For Pound, Mark, Swiss Franc, and AUD, it is more than 35.
- For the US Dollar difference between buying and selling rates is 32.
- Required ratio = 2080/3120 =0.67
- Buying price for 100 Pound = Rs. 4723
Buying price for 200 UAE = Rs. 2 * 849 = Rs. 1698. Therefore, Required money = (4723 + 1698) = Rs. 6421