Mathematics · Aptitude and Scoring Models
A bank is developing a scorecard for 'New to Credit' (NTC) borrowers using a point-based system: • Base Score: 500 points • Savings Account Balance: +10 points for every 10,00,000 INR of average balance (Max 50 points) • Employment Type: Salaried (+40 points), Self-Employed (+20 points) • Residency Status: Owned House (+30 points), Rented (+10 points) • Age: 18–25 (+10 points), 26–45 (+30 points), 46+ (+20 points) • Utilities Bill Payment History: Perfect (+30 points), 1–2 delays (+10 points), 3+ delays (-50 points) Calculate the score for Mr. Ravi given the following parameters: • Average Balance: 35,000 INR • Employment: Salaried • Residency: Rented • Age: 28 • Utilities: 1 delay If the 'Cut-off' score for a loan is 600, does Mr. Ravi qualify?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1No, his score is 580.
- 2Yes, his score is 620.✓
- 3No, his score is 590.
- 4Yes, his score is 610.
Correct answer
Yes, his score is 620.
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