Data Interpretation: How to Ace the Bank Exams

How to Ace the Data Interpretation Section of the 2023 Bank Exams is the Topic of Today's Article

Questions requiring data interpretation carry more weight and are present in nearly every competitive bank exam paper.

In the year 2023, the Quantitative Aptitude section of many bank exams will place a heavy emphasis on Data Interpretation (DI). Candidates often spend considerable time on questions like these during bank examinations.

Questions on bank exams often come in the form of graphs, charts, and tables, and occasionally even statements. You'll be asked to draw reasonable inferences in response to statement questions on a wide range of topics (time and distance, averages, simple interest, compound interest, etc.). of the Mathematical Abilities Test

Read the linked article to delve deeper into the subject of Quantitative Aptitude.

More context is provided in the questions that require data interpretation. The only way to get the answers to questions like these is to identify the most important aspects of the problem that you can focus on.

Prospective bank exam takers can use the following links as a resource while studying for upcoming exams on other crucial areas of quantitative aptitude:

Those interested in starting at the beginning with Data Interpretation can benefit from watching the video that follows:

Conceptualizing and Understanding Data Interpretation

Data interpretation is the process of representing data and answering questions based on that data. This happens when one is presented with information and asked to solve problems using that information.

Approximately 10–15 questions on the bank prelims and 10–20 questions on the mains are based on data interpretation.

The subparts of each graph or data set presented under the data interpretation questions require a solid grasp of the other topics covered in the numerical ability section.

The linked article provides aspirants with ten easy tips and strategies for tackling quantitative aptitude tests.

Classification of Data Interpretation Questions

There is a wide variety of question types that can be asked to test your ability to interpret data. Below are examples of the different types of data interpretation questions that could appear on a bank's preliminary or main exam.

1. Information may be presented in a bar graph, and questions may be asked based on the data presented.
2. The questions may be presented in tabular form, wherein a table containing the necessary information is provided, and the answers are then derived from the table's contents.
3. The data can be displayed in a linear or line format in a line chart. Similarly, questions testing candidates' ability to interpret data are frequently presented in this format in bank exams.
4. A caselet is a paragraph format for information. You won't find any pictures here; instead, you'll find paragraphs of text.
5. Graphing Information in a Circular Graph A question could contain information presented in the form of one or more pie charts.
6. Data interpretation questions can also be asked in a missing-data format. Answers to questions may require candidates to complete a table that is missing a few of its components.

Data Interpretation: Hints and Techniques

In this article, you will find all the information you need to fully prepare for data interpretation and easily pass DI questions.

1. Make the numbers more accurate:
   To solve the questions on the Quantitative Aptitude section, one must use mathematical calculation skills. There are some topics, like data interpretation, that require both rapid thinking and precise details. Solving examples on a regular basis will help you become more proficient with numbers. There will be gradual but noticeable gains in both speed and accuracy as you practice for the bank exam.
2. Correctly analyze the question:
   More information is given in the question if you want to increase your odds of passing the bank exam with a high score in a short amount of time, here's what you need to know. In light of this, it is more crucial to analyze the question. Practicing questions across a range of difficulties will help you get a feel for the variety and difficulty of questions on a bank exam, as well as the time commitment involved in solving them.
3. Quick and precise:
   Data interpretation questions call for proficiency with numbers, calculations, fractions, and percentages. It will take a long time to solve the various types of questions on a bank exam, so this will be more helpful when you are actually working on the problems. Explore a variety of methods for solving the problems in the cube, square, and multiplication sections. Your precision will increase the most in this area as you gain experience.
4. When going through practice questions, never use a calculator:
   No one needs to be reminded that calculators are banned from all banking exams. Consequently, you should attempt to answer the questions without the aid of calculators; however, this will only be possible if you begin practicing without them right away. In other words, this is not just something you need to do for your bank exams. All test-takers, whether they're preparing for a national exam or a college entrance quiz, would do well to heed this guideline.
5. Units:
   Candidates do well on data interpretation questions, but they overlook the units. This is a widespread problem, not just in bank exams but in all kinds of competitive tests. So, while practicing, don't just jot down an answer and walk away; write out the units, too; only then will you be able to commit them to memory.
6. Get plenty of repetitions in:
   Studying for your bank exams on a daily basis is the only way to ensure your success. The majority of data interpretation questions, as everyone knows, involve analyzing bar charts and pie charts. For this reason, we recommend that candidates maintain a regular reading habit of newspapers, journals, and magazines. Some DI questions are based solely on data and graphs from the news.

Here, then, are some pointers and methods for tackling Data Interpretation questions on the part of various bank exams.
Candidates can refer to the video provided below to learn the proper method for tackling Data Interpretation questions that feature a mix of two different graphs/charts:

Sample Questions on Data Interpretation

Because data interpretation questions make up a disproportionate share of the quantitative aptitude section, hopefuls should devote extra time and energy to learning about them as they study for the exam.

You can get a feel for the types of questions that will be asked in the exam by taking a look at the few sample questions we've provided below, which are all based on data interpretation.

Follow the instructions (Q1-Q3) below and answer the questions based on the information provided.

Data for the clothing label "X," which has retail locations across India (as shown in the table below) The following table displays the monthly brand profit in various cities.

Q 1 In all of the cities where company X operates, what is the typical monthly profit for the month of April?

1. Rs 25000
2. Rs 24000
3. Rs 45000
4. Rs 33000
5. Rs 23000

Solution: (2) R s 24000

Solution:

Company X's average April profit across all five cities is: ($50,000)$12,000 ($17,000)$22,000 ($24,000) = ($120,000)$24,000.

Q 2 Choose the city where you would make the most money over the course of five months from the ones provided.

1. Chennai
2. Mumbai
3. Lucknow
4. Chandigarh
5. Delhi

Three, Lucknow

Solution:

The sum of Lucknow's profits, in rupees: (45000 34500 33000 50000 65000) = Rs 227500

The City of Mumbai's Overall Profit, in Rupees (33000 43000 56500 12000 45000) = Rs 189500

Calculating Chennai's Overall Profit in Rupees (13000 28000 66000 22000 45400) = Rs 174400

Chandigarh's Overall Profit = Rs (65000 64500 12340 19000 23500) = Rs 184340

Delhi's Overall Profit in Rupees = (23400 34560 43200 17000 34000) = Rs 152160

Q 3 How much more or less does Company X make in Lucknow than it does in Chennai?

1. Rs 45000
2. Rs 52000
3. Rs 34000
4. Rs 65000
5. Impossible to measure

Correct! (2 R) 52000

Solution:

Company X in Lucknow made its highest monthly profit of Rs. 65000

Chennai-based firm X made its smallest monthly profit of the year in January, equaling Rs. 13000

Distinction = Rs (65000-13000) = Rs 52000

Similar inquiries may be made when using alternative representations of data for analysis. As a result, in order to succeed in upcoming bank exams, students need to allocate adequate time to studying the data interpretation topic.

Candidates can read the linked article for more information on how to study for the Data Interpretation section of the bank examination.

BYJU'S is a helpful resource for those seeking information about the bank exam process, sample questions, and study guides.