In Excel, what does the 'PMT' function calculate? MCQ with Answer and Explanation

Question
In Excel, what does the 'PMT' function calculate?
A. The interest rate of a loan
B. The payment for a loan based on constant payments and interest rate
C. The future value of an annuity
D. The present value of an investment
Answer: Option B
Solution (By JKSSB Mock Tests)
PMT computes the periodic payment for a loan or annuity with constant payments and a fixed interest rate. PV calculates present value, FV future value, RATE calculates interest rate.
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Question #1
What will be the result of the MS Excel formula =COUNTA(A1:A4) if cell A1=10, A2="Text", A3=EMPTY, and A4=0?
A. 4
B. 1
C. 3
D. 2
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Correct Answer: Option C

Explanation:
The COUNTA function counts any non-empty cells within a range. Out of four cells, three are occupied (10, "Text", 0) and one is blank, yielding 3.
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Question #2
In MS Access, a query that asks the user to input a specific value each time it is run is called a:
A. Crosstab query
B. Action query
C. Parameter query
D. Select query
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Correct Answer: Option C

Explanation:
A parameter query prompts for criteria. Select query retrieves data, crosstab summarizes, action query updates/deletes.
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Question #3
What is the function of the 'Alt + Tab' shortcut in Windows OS while working with MS Office?
A. Open Task Manager
B. Switch between open applications
C. Close the current application
D. Switch between documents within the same application
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Correct Answer: Option B

Explanation:
Alt + Tab is a Windows shortcut to switch between open applications. Ctrl + Tab switches between documents in the same app. Alt + F4 closes the current window. Ctrl + Shift + Esc opens Task Manager.
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