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100+ Free IRFC Assistant (Finance) Practice Questions

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2026 Statistics

Key Facts: IRFC Assistant (Finance) Exam

100

Total MCQs

IRFC Official Notification

90 min

Total Time Limit

IRFC Official Notification

0.25

Negative Mark Penalty

IRFC Official Notification

18-30 yrs

Age Limit

IRFC Careers

B.Com + Inter

Minimum Qualification

IRFC Careers

₹500

Application Fee

IRFC Official Notification

The IRFC Assistant (Finance) exam is a 100-question CBT with a 90-minute limit. Part A (General Aptitude) and Part B (Professional Knowledge) are each worth 50 marks, with 0.25 negative marking per incorrect answer.

Sample IRFC Assistant (Finance) Practice Questions

Try these sample questions to test your IRFC Assistant (Finance) exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1A sum of money double itself in 8 years at simple interest. In how many years will it become 4 times of itself at the same rate of interest?
A.16 years
B.24 years
C.32 years
D.20 years
Explanation: Let the principal be P. Under simple interest, if a sum doubles in 8 years, the interest earned equals the principal (I = P). The formula for simple interest is I = (P * R * T) / 100. Thus, P = (P * R * 8) / 100, which gives R = 100 / 8 = 12.5% per annum. To become 4 times of itself, the total amount A = 4P, which means the interest earned must be 3P (Interest = A - P = 3P). Using the simple interest formula again: 3P = (P * 12.5 * T) / 100. Solving for T: 3 = 12.5T / 100, which gives T = (300 / 12.5) = 24 years. Alternatively, a simpler shortcut is: (N1 - 1) / T1 = (N2 - 1) / T2. Here, (2 - 1) / 8 = (4 - 1) / T2, which simplifies to 1 / 8 = 3 / T2, yielding T2 = 24 years.
2A trader marks his goods 40% above the cost price and allows a discount of 20% on the marked price. What is his net profit or loss percentage?
A.20% profit
B.12% profit
C.12% loss
D.16% profit
Explanation: Let the cost price (CP) of the goods be ₹100. The trader marks the goods 40% above the cost price, so the marked price (MP) = 100 + 40% of 100 = ₹140. He then allows a discount of 20% on the marked price. Discount = 20% of 140 = ₹28. The selling price (SP) = MP - Discount = 140 - 28 = ₹112. Net Profit = SP - CP = 112 - 100 = ₹12. Net Profit Percentage = (Net Profit / CP) * 100 = (12 / 100) * 100 = 12%. Alternatively, using the successive percentage formula: Net% = A + B + (AB/100), where A = +40 and B = -20. Net% = 40 - 20 + (40 * -20) / 100 = 20 - 8 = 12% profit.
3A and B can complete a piece of work in 12 days and 18 days respectively. They work together for 4 days, after which A leaves the work. How many days will B alone take to complete the remaining work?
A.8 days
B.6 days
C.10 days
D.7 days
Explanation: Let the total work be the LCM of 12 and 18, which is 36 units. Efficiency of A = 36 / 12 = 3 units/day. Efficiency of B = 36 / 18 = 2 units/day. Combined efficiency of A and B = 3 + 2 = 5 units/day. In 4 days of working together, A and B complete = 5 units/day * 4 days = 20 units. Remaining work = Total work - Completed work = 36 - 20 = 16 units. Since A leaves, B alone completes the remaining work. Days taken by B = Remaining work / B's efficiency = 16 units / 2 units/day = 8 days.
4Two trains of lengths 140 m and 160 m are running in opposite directions on parallel tracks at speeds of 60 km/h and 48 km/h respectively. How much time will they take to cross each other completely from the moment they meet?
A.10 seconds
B.12 seconds
C.15 seconds
D.8 seconds
Explanation: When two trains cross each other, the total distance to be covered is the sum of their lengths: Distance = L1 + L2 = 140 m + 160 m = 300 m. Since they are running in opposite directions, their relative speed is the sum of their individual speeds: Relative Speed = S1 + S2 = 60 km/h + 48 km/h = 108 km/h. To convert speed from km/h to m/s, multiply by 5/18: Speed = 108 * (5/18) = 6 * 5 = 30 m/s. The time taken to cross each other is Distance / Relative Speed = 300 m / 30 m/s = 10 seconds.
5If 15% of a number is 45 less than 20% of the same number, then what is the value of that number?
A.900
B.600
C.750
D.800
Explanation: Let the number be x. According to the problem: 20% of x - 15% of x = 45. This simplifies to: 5% of x = 45. Representing 5% as a fraction: (5/100) * x = 45. Solving for x: x = (45 * 100) / 5 = 9 * 100 = 900.
6Find the missing term in the given number series: 4, 11, 30, 85, 248, ?
A.735
B.744
C.737
D.648
Explanation: Analyze the pattern between consecutive terms in the series: Term 1: 4 Term 2: 11 = 4 * 3 - 1 Term 3: 30 = 11 * 3 - 3 Term 4: 85 = 30 * 3 - 5 Term 5: 248 = 85 * 3 - 7 Following this pattern, the next term is: Term 6 = 248 * 3 - 9 = 744 - 9 = 735. Thus, the missing term is 735.
7The average weight of 8 persons increases by 2.5 kg when a new person comes in place of one of them weighing 65 kg. What is the weight of the new person?
A.75 kg
B.80 kg
C.85 kg
D.90 kg
Explanation: Let the original average weight of 8 persons be W. The total weight of the 8 persons is 8W. When a person weighing 65 kg is replaced by a new person of weight N, the new total weight is 8W - 65 + N. The new average weight increases by 2.5 kg, so the new average is W + 2.5. Thus, the new total weight is also 8 * (W + 2.5) = 8W + 20. Equating the two expressions for the new total weight: 8W - 65 + N = 8W + 20. Solving for N: N - 65 = 20, which gives N = 85 kg.
8In a competitive exam, 4 marks are awarded for each correct answer and 1 mark is deducted for each incorrect answer. If a student attempts all 80 questions and scores 120 marks, how many questions did he answer correctly?
A.35
B.40
C.45
D.50
Explanation: Let the number of correct answers be C and the number of incorrect answers be W. Since the student attempted all 80 questions: C + W = 80, which means W = 80 - C. The total score is calculated as: 4 * C - 1 * W = 120. Substituting the expression for W: 4C - (80 - C) = 120. This simplifies to: 5C - 80 = 120, which gives 5C = 200. Solving for C: C = 40. Therefore, the student answered 40 questions correctly.
9Solve the quadratic equation and find the relationship between x and y: I. x^2 - 11x + 30 = 0 II. y^2 - 15y + 56 = 0
A.x > y
B.x < y
C.x >= y
D.x <= y
Explanation: Solving Equation I: x^2 - 11x + 30 = 0. Factoring the quadratic: (x - 5)(x - 6) = 0. Therefore, the roots are x = 5 and x = 6. Solving Equation II: y^2 - 15y + 56 = 0. Factoring the quadratic: (y - 7)(y - 8) = 0. Therefore, the roots are y = 7 and y = 8. Comparing the roots: For x = 5: 5 < 7 and 5 < 8 (so x < y). For x = 6: 6 < 7 and 6 < 8 (so x < y). In all cases, the values of x are strictly less than the values of y. Therefore, the relationship is x < y.
10In what ratio must water be mixed with milk costing ₹40 per liter to obtain a mixture worth ₹32 per liter, assuming water is available free of cost?
A.1 : 4
B.4 : 1
C.1 : 5
D.2 : 3
Explanation: We can solve this using the rule of alligation. Let the cost of water be ₹0 per liter and the cost of milk be ₹40 per liter. The mean price of the mixture is ₹32 per liter. By alligation: Cheaper (Water) Cost = 0, Dearer (Milk) Cost = 40, Mean Price = 32. Difference on milk side (Dearer - Mean) = 40 - 32 = 8. Difference on water side (Mean - Cheaper) = 32 - 0 = 32. Therefore, the ratio of water to milk is: Ratio = (Dearer - Mean) : (Mean - Cheaper) = 8 : 32 = 1 : 4.

About the IRFC Assistant (Finance) Exam

The IRFC Assistant (Finance) exam is a competitive recruitment test conducted for selecting candidates for the Assistant (NE-5 level) post at the Indian Railway Finance Corporation. The Computer-Based Test (CBT) consists of 100 objective multiple-choice questions carrying 1 mark each, with a total duration of 90 minutes. The exam is divided into Part A (General Aptitude, Reasoning, General Awareness, and Railways/IRFC GK) for 50 marks, and Part B (Professional Knowledge in Finance, Corporate Accounting, Costing, Taxation, and Corporate Laws) for 50 marks. A negative marking of 0.25 marks is deducted for every incorrect response. Shortlisted candidates must undergo document verification and medical examination.

Questions

100 scored questions

Time Limit

90 minutes

Passing Score

Subject to cut-offs determined by IRFC

Exam Fee

₹500 for General/OBC; Nil (SC/ST/PwBD) (Indian Railway Finance Corporation (IRFC))

IRFC Assistant (Finance) Exam Content Outline

50%

Part A: General Aptitude & Awareness

Numerical ability, logical reasoning, general intelligence, static general awareness, and basic facts about Indian Railways and IRFC.

50%

Part B: Professional Knowledge

Corporate accounting standards, costing and management accounting, corporate financial management, income tax, GST, and corporate laws.

How to Pass the IRFC Assistant (Finance) Exam

What You Need to Know

  • Passing score: Subject to cut-offs determined by IRFC
  • Exam length: 100 questions
  • Time limit: 90 minutes
  • Exam fee: ₹500 for General/OBC; Nil (SC/ST/PwBD)

Keys to Passing

  • Complete 500+ practice questions
  • Score 80%+ consistently before scheduling
  • Focus on highest-weighted sections
  • Use our AI tutor for tough concepts

IRFC Assistant (Finance) Study Tips from Top Performers

1Ensure strong foundations in intermediate-level accounting standards, as professional knowledge accounts for 50% of the marks.
2Work on numerical ability speed, specifically topics like simplification, percentages, and simple/compound interest for Part A.
3Read up on the history and operational structure of Indian Railways and IRFC, as static GK questions specific to these entities are regularly asked.
4Familiarize yourself with basic Direct and Indirect Tax provisions, including recent Income Tax slabs and GST filing guidelines.
5Practice full-length 90-minute mock tests to learn how to balance speed between Part A and Part B and avoid excessive negative marking from guessing.

Frequently Asked Questions

What is the qualification required for the IRFC Assistant (Finance) post?

Candidates must have a B.Com degree with at least 60% marks from a recognized university, and they must have passed the Intermediate Examination of either ICAI (Chartered Accountant) or ICMAI (Cost Accountant).

What is the age limit for the IRFC Assistant (Finance) exam?

The age limit is 18 to 30 years. Age relaxations apply for SC/ST (5 years), OBC-NCL (3 years), and PwBD (10 years) candidates as per government guidelines.

What is the exam pattern and duration for IRFC Assistant?

The exam is an online Computer-Based Test (CBT) consisting of 100 multiple-choice questions. It has a duration of 90 minutes. Part A contains 50 questions on general aptitude, reasoning, and general awareness, while Part B contains 50 questions on finance and accounts.

Is there negative marking in the CBT?

Yes, there is a negative marking penalty of 1/4th (0.25) mark for every wrong answer. Unanswered questions do not incur any penalty.

What is the application fee for the IRFC Assistant recruitment?

The application fee is ₹500 for General, OBC, and EWS candidates. Candidates belonging to SC, ST, and PwBD categories are completely exempted from paying the fee.

What is the role of an Assistant (Finance) in IRFC?

An Assistant (Finance) handles corporate accounting, bill processing, checking ledger reconciliations, assisting in internal and external audits, handling taxation filings (Direct & Indirect), and processing treasury transactions under the supervision of Finance Managers.