Profit & Loss

Banking Pathway 2015: Quant Study Notes & Quiz ( Profit & Loss)

Profit & Loss:
Suppose Company A produces 1000 T.V in Year 2000 And 1200 T.V in Year 2001. On the other hand Company B produces 5000 T.V in year 2000 and 5500 T.V in year 2001. Which company has the better growth rate ?
Cost Price aka CP Successive simply means anything which is applied in succession ( ek ke baad ek apply karna )Answers & Explanation;1. aExplanation:1.Total Number of printers = 5 (2 sold , 3 unsold)2. Total investement = Rs. 47253.  Total number of Microwave ovens = 15 (12 sold +3 unsold)4. After 2 years :-5. Let SP be Rs. 1006 . Let originally he buy X kg for Rs. 1807. SP = Rs. 248. Let CP of one be X and other be Y9. Let the CP be Rs. x/ orange10. Profit= 5% (If case )

Dear Reader , 

In continuance to provide study notes(Short Tricks ) today we are Providing Notes on Profit & Loss. Which is very crucial topic for upcoming competitive examinations.Here we also Providing some concept clearing quiz for analysing yourself. Time management also very crucial part for gain good marks in exam. so use wisely your precious time. 

These Study notes are provided by one of our ardent BA reader Insomniac and Quiz is provided by Bedanshu. We wish you both good luck for future.

Cost Price-The price at which an article is purchased is called its cost price (C.P.)

Selling Price-The price at which the article is sold is called its selling price (S.P.)

CP = Cost Price = The price at which an object is Purchased

SP = Selling Price = The price at which the object is Sold.

When SP < CP → Loss = CP - SP

When SP > CP → Profit = SP - CP

Note: Loss% and Profit% both are calculated upon CP

Profit% = [Profit/CP] * 100

Loss% = [Loss/CP] * 100

Now Look at company A, The increase is of 200 T.V and Company B the increase if of 500 T.V So in Numerical Sense Company B has Produced more than A.

But we are not talking here about Numerical Growth We are talking about relative Growth. i.e Growth with respect to it's previous year production. [ Like things are compared with like thing Only, Just Like you can't compare Apple and Oranges]

Taking That Point Into Consideration The Growth of Company A with respect to it's Previous year production will be (200/1000)*100 = 20%

And that for company B it will be (500/5000)*100 = 10%

So clearly Company A has a better growth rate than company B.

In my methods I Consider CP to be an Absolute Value of 100%. So if anybody Says he made profit of 20% it means He sells the Object at 120% or C.P 100% and Profit is 20% then it means SP = 1.2x( It will be more clear to you when i will explain Different Case)

Profit or Loss both are calculated with respect to C.P i.e CP is Always used as a base while calculating profit and loss.

Selling Price aka SP

I think by Common Sense you all know that If SP>CP then you will have profit whose value will be (SP - CP) In terms Of numerical Value.

And Profit % will be [(SP-CP)/CP] * 100 or [(Profit/CP)*100] [ remember i told you that profit and loss both are calculated on CP i.e taking CP as Base, So all you have to do is calculate Profit in terms of numerical value( SP - CP) and then divide it by the base(CP) and then multiply it by 100 and you will get your profit %]

Eg. CP of a pen is 10 Rs and SP is 12 Rs. What is profit and profit % ?

Pretty easy Huh !! Just calculate profit first So it will be SP - CP = 12-10 = 2RS

And profit % [(SP-CP)/CP]*100 = [(12-10)/10]*100 = [(2/10)*100] = 20%

So now I think The difference between profit and profit % is clear to you.

Now If you know What is Profit then you all must know That what is Loss and when loss Occurs.

Loss occurs when we make some pretty bad decisions and We go out Nuts and Start selling The object at a rate less than the purchasing price of the object.

Lets Put that in Mathematical Way. If CP>SP then there is a case of loss. to Find out the amount of loss all you have to do is (CP - SP)

And to calculate Loss% nothing difficult just the usual stuff [(CP-SP)/CP*100] or [(Loss)/CP*100] [ Look again I told you both Loss and profit are calculated taking CP as Base. So what i have done in the formula is That i calculated Numerical Loss and then divided it by our BASE i.e CP and Then Multiplies it by 100 To get our Loss%]

And i don't think I have to explain again the difference between loss and Loss %. 

So now Moving On to Other basic Stuff.

Marked Price aka MP= The Price at which a Product is Marked[ Like when you go to Your Local Market for buying Some nice Sunglasses( I mean fake RAY BAN's ;) ) And the Dealer say the cost is 1000rs and It's Also Marked on the Box but as we all know that it's just a MARKED PRICE and he will eventually sell that Ray Ban to you at 200Rs, And well if you are good at Bargaining then he will even sell it you at 100RS, And If It's me He will give it ME for free and even pay me 50RS back :P Well just Joking :P So that is our Marked Price] 

Discount % = It's like concession on the MARKED PRICE. The dealer says I Am just giving You a discount Man You are a regular customer and blah blah blah And you are like my relative and all the BS( But here is the catch The Discount % is always calculated on M.P In the above example of RAY BAN if you want to calculate the Discount % then It's Easy The MP was 1000Rs he Finally Sells you that Ray Ban at 200 So discount Given = MP - SP i.e 1000-200 = 800rs 

Now Discount % is calculated taking MP as BASE so Discount % will be 

[(MP-SP)/MP]*100 = [(1000-200)/1000]*100 = 80%]

Discount is calculated on MP but Marking of MP is done with respect to CP.

For example if I say I bought Something for 500rs and I marked the Product 60% above the CP then It means I marked the product 60% of 500 = 300 above CP means 500+300 = 800rs. OK 

CASE 1- Simple Profit and Profit % Calculation

Mohit Purchased A watch for 1000rs and then Sold it to  Nimesh for 1250rs. Calculate the Profit and Profit %?

Most Simple Question Which You will never get in Any Exam :P( But Basics are Basics we gotta revise it at least)

So What happens here Mohit  purchases a Watch( You see word Purchase And You know it's CP) at 1000rs 

SO C.P = 1000rs

And then he sells it at 1250Rs( You See the Word SELL Ok that's our SP )

So SP = 1250Rs

Now Profit as I told is nothing but SP - CP So profit = 1250-1000 = 250rs

Now Profit % = [(Profit)/CP*100] So profit % = [(250/1000)*100] = 25%

CASE - 2

Now The Watch That Nimesh purchased for 1250rs Is Sold Again by Her at Rs 625. So what will be Loss and Loss %

Again Usual Stuff

Loss = CP - SP

Loss = 1250 -625 = 625

Loss% = [(loss/CP)*100] = [(625/125)*100] = 50%

So we have a 50% loss here.

Case 3 Inversion case

Profit or loss% is Give and CP or SP is Given and you have to find SP or CP

Steve Sells an article for 1200Rs And he makes a profit of 20% in the Transaction. So What is the Cost price?

I told You once If you don't Know about Something Then assume it as x.

So we take CP = x

Now If i sell an article at 20% profit then what will be our SP in terms of x ?

yeah it's pretty simple 1.2x [ Because is told you percentage to decimal conersion So 20% here is nothing but 0.2x and total SP will be x+ 0.2x = 1.2x remember add in case of profit and subtract in case of loss]

And according to the Question he sold the article at 1200rs

So 1.2x = 1200rs 

So x = 1000Rs.

Steve  again sells an article for 1200rs but this time he suffers a loss of 20%. What will be the C.P?

Now just Take CP = x

So as i Told S.P will be ? yeah 0.8x ( As i said add in case of profit and subtact in case of loss)

and acoording to the question SP = 1200rs

So 0.8x = 1200

x = 1200/0.8 = 1500rs

So C.P is 1500rs.

If it's given that C.P is 1000rs and profit made is 20% 

Then it will be much more simple.

C.P is 1000rs so profit 20% will be 200rs.

So Profit = sp-cp therefore SP = CP + profit = 1000+200=1200rs.

Or If S.P is Given and Also Discount % is given you have to calculate MP

Example S.P = 200rs

Discount % = 80%

Find MP.

Simple Let M.P be X

So S.P after 80% discount will be 0.2x 

and according to question S.P = 200

So 0.2x= 200 

x = 1000rs = MP

Case 4: Combination Where MP CP SP are Mixed Together.

An article was purchased for Rs. 78,350. Its price was marked up by 30%. It was sold at a discount of 20% on the marked up price. What was the profit percent on the cost price?

Cost price = Rs. 78350

Marked price = 1.3*78350  = 101855( I told in the Start CP is Absolute 100% so If anything is Marked or Sold Above CP by ---% You just have to add that % to 100% and Convert it into it's relative decimal value)

Selling price = 101855*0.8= 81484[ Discount is calculated on MP so here MP is Absolute 100%, 20% discount that Means The product is being Sold at 80% of MP or 0.8MP)

Profit = S.P - CP = 81484 - 78350 = 3134

Profit% = (Profit/CP)*100 = (3134/78350)*100 = 4%

Case 5

A man purchases 11 oranges for 10rs and Sells 10 oranges for 11rs.Find profit or loss%?

1st- Basic method.

Find the C.P of 1 orange that will be 10/11

Find SP of 1 orange that will be 11/10

As it's clear SP>CP hence Profit will be SP-CP = 11/10 - 10/11 = (121 - 100)/110 = 21/110

Profit % = [(profit)/CP]*100 = [(21/110)/(10/11)*100] = [(21*11)/(110*10)*100 = 21%

2nd- LCM method.

Take The LCM The two numbers present in the Question i.e LCM of 10 and 11 = 110.

Now this Is the Amount Of oranges you will buy and sell and calculate the profit % on that.

So CP of 110 Oranges = 100rs

S.P of 110 Oranges = 121rs

Profit = 21Rs

Profit % = 21%[ calculates on the CP of 110 Oranges]

3rd - fastest Method but Confusing

Write The Purchase line First --- 11 oranges for 10

 -------------------------------------------------cross multiply-----                         

Selling Line 2nd                            10 oranges for 11 

11*11 will be SP and 10*10 will Be CP

Profit % = (11*11 - 10*10)/(10*10)*100 = 21%

Lets See one More Example

A man buys 8 pens for rs 9 and sells 9 pens for rs 8, Find profit or loss%?

By LCM methdo 

take lcm of 8 and 9 that will be 72

CP of 72 pens will be 81rs

SP of 72 Pens will be 64Rs

Clearly there is loss which will be equal to 81 - 64 = 17rs

Loss % = (17/81)*100 = 20.98 or 21%

BY Fastest Method.

Write the purchase line 8 pen for 9rs

---------------------------------cross multiply

write sale line                  9 pen for 8rs

C.P will be 8*8 = 64

S.P will be 9*9 = 81

Loss% will be (17/81)*100 = 20.98%

Case 6:- Dishonest dealer using false Weight and selling at Cost price.

A Dishonest dealer Professes to Sell the product at cost price but Instead of Selling 1000gm He sells only 900gm for 1Kg Wt

You don't need any Formula to Solve This Type of Question. You just have to use your own Mind here.

Now Look what the dealer is actually Doing here.

Dealer says He sell at Cost price Means He say He Sells at the price he purchases.

Now What amount He says He Sells = 1000gm

What Actually He Sells = 900gm

Now you can See here he is only selling 900gm and he is getting the oney for 1000gm

So this money from 100 Grams is His Profit OK.

Now how we calculate profit % ? We take CP as Base and Divide the Profit by CP.

Now look in this Question he is Selling 900 Gram and getting 100gram As profit.

So profit % will be (100/900)*100 = 11.11% 

One More Question 

A dishonest dealer Professes to sell the goods at cost price but instead of selling 1000 gms he sells only 800 gms for 1KG WT. Find his Gain% ?

Now Just Remember what He says He is Selling or what he gets paid for, he says he sell 1000gram

But What Actually He sells ? yeah exactly 800grams.

So how much he gets Extra or how much he cheats = 200grams

So profit will be (200/800)*100 = 25%

Case 7: Dishonest Dealer and also Selling Above Cost price.

A dishonest dealer Sells his Good 20% above the cost Price and Also cheats the Customer By giving them only 800gm for 1kg wt. What's his Profit % in the whole transaction.

We have to do the same stuff here Just Imagine. If he sells 1kg then how much will get paid for but also remember that he sells his good above 20% of CP Which means that if he sells 1000gm he gets paid for 1200gm. [ 20% above CP ka matlab yahi hua na ?]

So he gets paid for 1200gms and What he actually Sells here is ? Yes 800gms Only

So Profit will be SP - CP = 1200 - 800 = 400gm

Profit % will be (Profit)/CP*100 = [400/800]*100 = 50%

Case 8: When two Articles are Sold at Same Price but one at profit and one at loss and % profit = % loss.
In Such Cases there will always be a loss (%)which will be equal to [(Common Gain or Loss)]/10]^2 

Example - A man Sell two Wrist Watches One at a profit of 20% and one at loss of 20%. The selling price of each watch is 200rs. 

i) Find the Percentage of profit or loss.

ii) Net Amount of profit or loss.

i) As i told there will always be a loss in this case And % loss = [(common gain or loss)/100]^100

Now just put the value % loss = [(20/10)]^2 = 4%

Hence Loss % = 4%

ii) Net Amount of Loss 

So His Total SP was 200 + 200 = 400rs

He Suffers a loss = 4% Which means he sells his watch at 96% of their value i.e CP

So acording to Question 96% of CP = 400rs 

or 0.96CP = 400rs

CP = 400/0.96 

CP = 416.6667

So Net Amount of Loss = CP - SP = 416.667 - 400 = 16.667Rs

Case 9 - Goods passing through Successive hands.

It's a Lot like the method i told you yesterday about consecutive increase or decrease.

But Let's just Check it again.

A sells a good a profit of 20% to B and B Sells That Good to C at a profit of 25% If C pays 225 For It. What was it's Cpst Price for A.

So Just Asumme that CP for A was x

So he sells it at 20% profit That means he sells it at 1.2x

Now S.P of A = C.P of B

So Now B sells it to C at 25% profit

That means B sells it at 1.2*1.25*x 

Now C pays 225rs 

That mean 1.2*1.25*x = 225

so x = 150Rs

Answer CP for A = 150Rs.

Or you can Also use the formula which i told yesterday [x + y + (xy)/100]

Same way you can solve for 3 persons also.

Case 10 - CP of X articles = SP of Y Articles.

Very Simple If you know the trick behind it.

Eg - CP of 25 Articles is Equal to the SP of 20 Articles. Find the Profit or loss %.

Just write it This was 25CP = 20SP

Now Cross multiply So that Variables gets on One side of the equation and Constant gets on the Other Side.

So SP/CP = 25/20 

Now you just have to take that Elements on the opposite sides of Equation represents their corresponding value.

So in Equation SP/CP = 25/20. In front of SP the value is 25( So our SP will be 25)

And in front of CP the value is 20( So out CP is 20)

Now You know CP and SP calculating profit or loss is a child's play now but still we have to play it[ Personal Advice Always Believe in complete solution of the question, never leave the question in Mid Way ]

So as SP>CP there is profit

And profit will be [(SP-CP)/CP]*100 = (5/20)*100 = 25%

Another Example 

CP of 10 articles is equal to the SP of 12 Articles Find the profit or Loss %?

Do the same stuff again

10CP=12SP

Cross multiply now.

SP/CP = 10/12

So SP = 10

and CP = 12

So clearly there is a loss And loss % = (Loss/CP)*100 = (2/12)*100 = 16.66%

Case 1: Marking Above x% and giving discount of y%, Total profit or loss.

Eg A person Marks his good above 50% of CP and Gives Discount of 20% Find his Profit %.

The easiest way to solve this type of question is to assume the CP as 100

So CP is 100

M.P will be 50% above CP that will be 150

Now he gives discount of 20%

As discount is caculated on MP so SP after deducting the discount will be 150*0.8 = 120

Now SP = 120, CP = 100 So profit % will be 20%.

Case 12 - Decrease in Price of Commodity allows A person to Buy X quantity more of an item.

EG - When the price of sugar decreases by 10%, a man could buy 1 kg more for Rs 270. Then, the

original price and final price of the sugar are ?

Now remember i told you a formula yesterday Which Goes something like this[ (How Much It is decreased)/( What It Becomes after decrease)*100].

So this Question is Implementation of that Formula only.

Price is decreased by 10%.

So Man can purchase how much extra now ? Apply the formula ( How much decrease/ What It becomes )*100 = (10/90)*100 = 100/9 %

So man can buy 100/9 % more sugar now.

Lets Assume that originally He used to buy x kg of sugar

And as it's given in the question He can Buy 1 KG more. So that means that 100/9 % of x = 1kg

(100/900)*x = 1 

x = 9kg.

Now Original Quantity = 9kg

So Original Cost = 270/9 = 30Rs/KG

Increased Quantity = 9+1 = 10kg

So Final Price = 270/10 = 27RS/kg

Case 13

A trader allows a discount of 25% on his articles but wants to gain 50% gain. How many times the CP should be marked on the items?

Simple way to solve this Question is By Assuming MP as X and CP as Y.

So Let MP be X, So SP  after 25% discount  = 0.75x

And He also Wants to Again 50% on CP, So SP in Terms of y will be = 1.5y

Now Both SP are Equal So 

0.75x = 1.5y[ Now we have to find MP with respect to CP So express the equation in terms of Y]

x = 2y

or x = 200% of Y

So he Should marks his Goods 100% above the CP. 

Case 14:- Successive Discount.

We all used to get Amazed when we heard deals like 50% + 49% discount, I always used to wonder how can they sell their product at 1% price LOL. Then i studied % in class 7th and it became clear to me that's it's another way of looting commom man.

So what actually is Successive Discount. 

So When Pantaloons Say 50% + 30% off It doesn't mean you will get the discount of 80%. If they wanted to give you 80% discount( which they would never do) then they would simply have written 80% instead of 50% + 30%.

For Example You wen to Pantaloons or levis whatever And You Like a jeans Whose MP is 1000rs, and there is a discount of 50% + 30%. So Now You have to apply the 50% discount, By applying that New MP will become 500rs and Now On this 500Rs you will apply the next 30% discount to get the final SP which will be 350Rs.

So Lets See some Examples.

There are 2 Successive discount on Watch Whose MP is 2000rs. the first Discount is of 40% and other is of 20%.

The Good thing with successive discount is that you can apply The discount in any way you want, that means you can apply 20% discount first and if you want you can apply 40% discount first. The answer will remain the same.

So now Lets Apply 40% discount on 2000rs. After applying 40% discount the MP will become 1200rs and On that 1200 we apply another 20% discount So the final SP will become 960Rs.

Now Do the Other Way. First Apply 20% discount on 2000rs So new MP will be 1600 Rs Now apply 40% discount again. And the Final SP will be 960 Rs

You can see the answer is same in both the cases.

But I will tell you simple method Just Multiply It. 

I means MP is 2000 You want to apply 40% and 20% Discount Just do it like this was 2000*0.6*0.8 = 960

Sometimes It's Also Asked two successive discount of 30% and 40% is Equal to what Single Discount.

No need to worry Just do the regular Stuff. If MP was 1 after 30% discount it will become 0.7 and after 40% it will be 0.6

So multiply the values.

0.7*0.6 = 0.42. 

Now This 0.42 is The Final SP 

So total Discount will be equal to 1- 0.42 = 0.58 or 58%

Lets see 1 more example.

What will the Single Equivalent discount for two Successive Discount of 40% and 50%?

Let MP = 1

Now apply discount 0.6*0.5 = 0.3 = SP

So Discount = 1- 0.3 = 0.7 or 70%.

Case-15: Equation Based Question,
 it's not a single case many Question can be Made From This case But basic idea is you have to make a mathematical Equation To Solve Such type of Questions.

A trader gets a profit of 25% on an article. If he buys the article at 10% lesser price and sells it for Rs. 2 less, he still gets 25% profit. Find the actual CP of the article.

Let Assume the CP of the article was x. So according to Question The SP must have been 1.25x

Now He buys the article at 10% lesser price that means he buys it at 0.9x 

And he sells it 2rs less which means at 1.25x - 2

He will still get 25% profit But This 25% will be calculated on 0.9x because it's the new CP

So 1.25x - 2 - 0.9x = 25% of 0.9x

0.35x -2 = 0.225x 

0.35x - 0.225x = 2

0.125x = 2

x = 2/0.125 = 2000/125 = 16

So CP = 16.

Another One

A trader Sells an Article at 25% profit If he had Sold the item at 10 Rs. more the profit would have been 30%. Find The CP?

It's very simple question In this type of question just assume CP as x.

And Convert the % value of Profit into decimal and Then Solve the question Accordingly.

25% of x = 0.25x

and 30% of x= 0.3x

Now in the Question it is said The dealer would get 10rs more if the profit is 30% Or the difference between 25% profit and 30% profit is 10Rs

So 0.3x - 0.25x = 10

0.05x = 10

x = 10/0.05 = 1000/5 = 200

One More Question, A dealer Sells an Article at 20% profit If he had sold the article at 500rs less he would have suffered a loss of 30%. Find CP

Just Take CP as x

so 20% profit will be = 0.2x

30% loss = -0.3x[ remember loss is assigned as negative]

So according to Question the Difference between 20% profit and 30% loss is 500rs

So 0.2x - ( -0.3x) = 500

0.2x + 0.3x = 500

0.5x = 500

x = 500/0.5 = 5000/5 = 1000

Quiz :

Time: (5-6) minutes.

1. Aadesh bought a combined total of 25 monitors and printers. He marked up the monitors by 20% on CP while each printer was marked up by Rs. 2000. He was able to sell 75% of the monitors and 2 printers and make a profit of Rs. 49,000. The remaining monitors and 3 printers could not be sold by him. Find his overall profit or loss if he gets no return on unsold items and it is known that a printer costs 50% of a monitor.

(a) Loss of Rs. 48,500

(b) Loss of Rs. 21,000

(c) Loss of Rs. 41,000

(d) Data Inadequate

(e) None of these

2. A rickshaw dealer buys 30 rickshaws for Rs.4725. Of these, 8 are four seaters and rest are two seaters. At what price must he sell the four seaters so that if he sells the two seaters at 3/4th of this price, he makes a profit of 40% on his outlay.

(a) Rs. 180

(b) Rs. 270

(c) Rs. 360

(d) Rs. 450

(e) None of these

3. Ritesh bought 25 washing machines and microwave ovens for Rs. 2,05,000. He sold 80% of the washing machines and 12 microwaves ovens for a profit of Rs 40,000. Each washing machine was marked up by 20% over cost and each microwave oven was sold at a profit of Rs. 2,000. The remaining washing machines and 3 microwave ovens could not be sold. What is Raghav’s overall profit/loss?

(a) Rs. 1000 profit

(b) Rs. 2500 loss

(c) Rs. 1000 loss

(d) Cannot be determined

(e) None of these.

4. A flat and a piece of land were bought by two friends Tarun and Varun respectively at prices of Rs. 2Lakh and Rs. 2.2 Lakh. The price of the flat rises by 20% every year and that of land by 10% every year. After two years, they decided to exchange their possessions. What is approx. percentage gain of the gainer?

(a) 7.56%

(b) 6.36%

(c) 4.39%

(d) 3.36%

(e) None of these

5. Sunil calculates his profit percentage on the selling price whereas Sujeet calculates his profit on the cost price. They find that the difference of their profits is Rs. 900. If the selling price of both of them are the same, and Sunil gets 50% profit and Sujeet gets 40% profit, then find their selling price.

(a) Rs 4200

(b) Rs 4500

(c) Rs 4000

(d) Rs 4800

(e) None of these

6. A reduction of 10% in the price of salt enables a person to buy 2 kg more for Rs.180. Find the reduced and the original price per kg of salt respectively.

(a) Rs 10, Rs 9

(b) Rs 9, Rs 10

(c) Rs 18, Rs 20

(d) Rs 20, Rs 18

(e) Rs 18, Rs 16.2

7. A person sold his watch for Rs. 24. If the percentage of his loss was equal to the cost price , then the watch would have cost him

(a) Rs. 40

(b) Rs. 60

(c) Rs. 50

(d) Rs. 80

(e) None of these

8. A man buys two horses for Rs. 1550. He sells one so as to lose 23% and other so as to gain 27%. On the whole transaction he neither gains nor loses. What does each horse costs?

(a) 807,743

(b) 817,733

(c) 827,723

(d) 837,713

(e) None of these

9. An orange vendor makes a profit of 20% by selling oranges at a certain price. If he charges Rs. 1.2 higher per orange he would gain 40%. Find the original price at which he sold an orange.

(a) Rs. 3

(b) Rs. 12

(c) Rs. 4.8

(d) Rs. 6.0

(e) None of these

10. After selling a watch, shyam found that he had made a loss of 10%. He also found that had he sold it for Rs.27 more, he would have made a profit of 5%. the actual initial loss was what percentage of the profit earned,had he sold the watch for a 5% profit?

(a) 23%

(b) 150%

(c) 200%

(d) 180%

(e) None of these.

Thank you Insomniac and Bedanshu .

2. b
3. c
4. e  (8.189 approx. )
5. a
6. b
7. e (Either Rs 40 or Rs 60)
8. d
9. e (Rs. 3.60)
10. c


Monitors = 20.
Profit made on Printers sold = 2000*2 = 4000.
Monitors sold = 20*75% = 15
Profit made on Monitors sold = 49000-4000 = Rs.45000.
Profit made per monitor = 45000/15 = 3000.
20% of CP of Monitor = 3000
CP of Monitor = 15000.
CP of Printer = 7500
Total CP = 15000*20 + 7500*5 = 3,37,500
Total SP = 18000*15 + 9500*2 = 2,89,000
Loss = 48,500 

Total SP = 1.4*4725 = 6615
Now, Let the price of 4 seater be x then price of two seater will be .75x.
8x + 22*0.75x = 6615
24.5x= 6615 or x = 270

Hence, Washing machines = 10
He sold 12 ovens and 8 washing machines
Hence, In total he sold 80% of both
Thus, He sells 80% of both at a profit of Rs. 40,000.
Cost of 80% of the goods = 0.8*2,05,000 = 1,64,000
Hence, Total SP = 1,64,000+40,000 = 2,04,000
CP = 2,05,000
Loss = Rs.1000

Flat would be worth = 2Lakh* 1.2*1.2 = Rs. 288000
Land would be worth= 2.2Lakh*1.1*1.1 = Rs. 266200
Profit of the Gainer = Rs. 21800
Profit % of the gainer = 21800*100/266200= 8.189(approx)
Also if loss% woudd have been asked of the loser
loss% = 21800*100/288000 = 7.56 (approx. )

CP for Sunil = => (SP-CP)*100/SP = 50
CP for Sunil ==> (100-CP)*100/100 = 50 or CP = Rs. 50
(Divided by SP as Profit calculated on SP)
Profit for Sunil = 100-50 = Rs 50
Now, CP for Sujeet = (SP-CP)*100/CP = 40
(100-CP)*100= 40CP or CP for Sujeet= Rs. 1000/14
Profit for Sujeet = 100-100/14 = 400/14
Now, Difference in profit when SP is 100 = 50-400/14 = 300/14.
Now, Equating difference and SP, we have
300/14 : 100 : : 900 : SP
SP = 900*100*14/300 = Rs. 4200

Now, he will buy X+2 kg for Rs. 180.
Reduction in original price =10%
(180/X)/kg*90/100 = [180/(X+2)]/kg
90(X+2) = 100X
X = 18
Therefore, Originally he bought 18kg.
Original Price = Rs. 10/kg
Reduced Price = Rs. 9/kg

Let CP be X hence, Loss% = X
(X-SP)*100/X = X or (X-24)*100/X = X
X^2-100X+2400 = 0
(X-60)(X-40) = 0
X= 60 or 40

X+Y = 1550….(i)
ATQ:-
0.77X + 1.27Y = 1550…(ii) (as no profit and no loss is there)
Solving both, we get
50Y = 35650 or Y = 713
Hence, X = 1550-713 = 837
Therefore, CP of each horse = 837,713

Profit = 20%
SP = Rs. 1.20x
Now, If case :-
SP =x+ Rs.1.2
Profit = 40%
Therefore, we can say
1.40x = x+1.2 or x = Rs. 3
Hence, Original SP = Rs 1.2x = Rs. 3.60/-

5% of CP ------> Rs. 27
So, CP = Rs. 540
Now, Loss% = 10
Loss =Rs. 54
Required % = 54*100/27 = 200%

new english class

Directions (1-15): In the following questions, a passage is followed by five options. Find the option which correctly expresses the conclusion of the given paragraph(completes the paragraph). If none of the options applies, select option E as your correct answer.

Q1. The Assad regime depends on its patrons in Iran and the Iranian-backed Hezbollahmilitia in neighboring Lebanon. The Sunni-led opposition is similarly turning to its regional patrons. These regional players, with their own agendas, will keep pulling Syria apart until a functioning national government can be reestablished.

(a) The resolution must be political – but grounded in a realistic assessment of the difficulty in putting the pieces of Syria back together.

(b) The regime has seemed equally bent on division.

(c) What’s happening in Syria isn’t an insurgency now but a sectarian civil war.

(d) The country should enter what is similar to quarantine until it is cured from the sectarian disease.

(e) None of the above

Q2. Naseeruddin Shah is undoubtedly one of the best performers on the Indian screen. Despite his atypical looks, he managed to make a mark for himself in both parallel and commercial films, but gives credit to Bollywood megastar Amitabh Bachchan for paving the way for unconventional looking heroes in the Hindi filmdom.

(a) Naseeruddin’s own achievements are no mean feat, but despite three National Awards, international honour and acclaim, the seasoned actor wonders why he isn’t seen as a commercially viable artist by filmmakers.

(b) Nowadays unconventional-looking actors like NawazuddinSiddiqui and Irfan among others have raised the bar in filmdom, but Naseeruddin feels the real credit goes to Amitabh Bachchan.

(c) Mentality has not changed. It’s just that the audience has always appreciated good acting.

(d) But the tendency has not changed. Still the chocolate face is acceptable.

(e) None of the above

Q3. Given that all three major parties – Congress, BJP and AAP – have declared that they would not enter into any post-poll alliances, the chances of President’s Rule seem higher, especially if the largest party is way short of the majority mark. Since President’s Rule cannot last beyond six months,

(a) Experts, however, also feel a huge voter-turn out usually suggests a decisive and clear mandate.

(b) However, absence of a formal government can slow down functioning of the departments.

(c) Experts look at the scenarios as an ‘unfortunate’ one for the city as it hurts the functioning of the government in a significant way.

(d) The fresh election to the Delhi assembly may well be held along with the Lok Sabha election in the summer of 2014.

(e) None of the above

Q4. Most voters respond to the liberal and conservative frames on most issues. Not all issues – most of us have a few things we care strongly about, whether it’s guns, abortion, minimum wage, Afghanistan or whatever. Very few of us have a strong belief in a particular “ideology” in the sense of strongly adhering to a particular set of first principles that attentive political actors would recognize as “liberal” or “conservative” (or socialist, libertarian, green or whatever).

(a) Instead, most voters seem to appreciate arguments from multiple sides – we might think it sounds right that people should make it on their own and that too much government assistance would make us dependent, but we might also think it sounds right that we should pitch in collectively to help the needy and also that there are things we can do collectively to ensure a fairer chance for all.

(b) In practical terms, believing both of those things might be wildly inconsistent, but it’s also true, in practical terms, that most of us never have to resolve that inconsistency – so we don’t.

(c) Picking an ideology, for most of us, doesn’t accomplish anything.

(d) That turns out to make for a very effective democracy.

(e) None of the above

Q5. Mourn the statesman and the revolutionary and the terrorist and the neoliberal and the ethicist and the pragmatist and the saint and don’t you dare try to discard or remove any part of that whole.

(a) He had a compliment to give to everybody, including my housekeeper and doorman. It was amazing. A gentle giant, he was.

(b) Celebrate him? Sure, but then make sure you’re willing to consider emulating him.

(c) Mandela faced, the hypocrisy of many who praise his life.

(d) He showed us how liberating it is to forgive.

(e) None of the above

Q6. Freedom of the Press, the Ark of the Covenant of Democracy”, as proudly proclaimed by our Supreme Court, is not in good shape. A document published by The Free Speech Hub, an initiative of the Media Foundation, records how journalists in Kashmir have been beaten and shot at by the security forces. Journalist AmulyaPani was assaulted when he went to cover the police firing on villagers in Kalinga-nagar in Orissa, and journalists Moirangthem Romeo and Atom Lukhoi were arrested by the Imphal East commandos in Jirabam in Manipur, for no apparent reason. Attacks on freedom of the press and journalists are not the monopoly of the security forces. Attacks on and vandalizing M F Husain’s paintings, threats against writer Arundhati Roy for her article about Maoists and the onslaught on Bollywood film My Name is Khan emanated from intolerant social and political groups.

(a) We have not learnt to accord freedom to the thought we hate or to a movie of which we disapprove.

(b) Regrettably, law enforcement authorities look the other way when powerful political personalities and organizations are involved.

(c) We have not learnt to given freedom to the thought we dislike.

(d) The root cause is the inability to stomach anything which is unconventional or opposed to one’s idea of truth and morality.

(e) None of the above

Q7. 1967 Border: At the start of the Six Day War in 1967, Gaza was held by Egypt, the Golan Heights by Syria, and the West Bank by Jordan; after the Six Day War, Israel had pushed its Arab neighbors to the Sinai Peninsula to the West, to the Jordan River to the East, and out of the Golan, and its occupation of these new territories has continued since (except for Gaza, from which Israel withdrew but has since subjected to a military blockade to isolate the Strip’s Hamas-led government). The two-state solution is premised on a Palestinian state established in the Gazan and West Bank territory held by Egypt and Jordan at the start of the Six Day War.

(a) The compromise, then, is to exchange territory – Palestinian negotiators will concede settlement blocs in the West Bank to Israel in exchange for territorial additions to the Palestinian state.

(b) The last round of direct talks fell apart when Palestinian negotiators reportedly would not concede that Israel is a “Jewish state” in exchange for a settlement freeze.

(c) Israeli negotiators have consistently resisted the resettlement of Palestinian refugees to Israel, arguing that it is logistically not feasible and would alter the fundamental identity of the Israeli state.

(d) But those exact borders, Israeli Prime Minister Benjamin Netanyahu has argued, have become indefensible, and Israeli negotiators are pushing to retain settler-held territory in the West Bank.

(e) None of the above

Q8. In July this year, Twitter introduced “Promoted Products”, a paid service that highlights advertiser’s tweets, handles or trends, to India. As it edges ever closer to the traditional model of a content-driven media company through such advertising efforts and new content partnerships, Twitter’s India initiatives can be seen as a clear – but cautious – part of a larger, less organic growth strategy for its global future.

(a) Indian brands could also create “promoted tweets”, which would also be sold through a cost-per-engagement model.

(b) Twitter hinted that it intended to launch this service in “selected international markets”, but did not name India specifically.

(c) There are many people on Twitter who actually take the brand’s promotion and do it in their own way.

(d) Twitter was still growing in the US, its home country, but that it already has a larger user base in some other countries.

(e) None of the above

Q9. India return to the trajectory of growth? It was not “will” India return, but “when”. Underlying this question has been disappointment and hope. There is the perception that India’s current economic woes are of its own making. This disappoints, because India did so well to withstand the Great Recession of 2008. There is also the view, however, that these problems can be remedied with stronger leadership.

(a) The hope is that this leadership will be forthcoming and that a resurgent India will counter an ambitious China.

(b) There were, of course, supplementary questions – is corruption an endemic feature of our polity? Who will best whom in the presidential tussle between Narendra Modi and Rahul Gandhi? What is the nature and consequence of the strengthening tide of federalism? – but they all flowed from this interest in the future prospects of the economy.

(c) We focus on the trees and lose sight of the forest. The challenge of responding to interested, non-partisan and well-meaning critics of the India story on foreign soil compels analytical realignment.

(d) Most of us who live in large cities and circle the opinion formers in government, politics and journalism tend to get bogged down in the minutiae of anecdotal analysis.

(e) None of the above

Q10. The House of Lords has been replaced by the UK Supreme Court which is now the highest court of appeal in the United Kingdom. It was established by the Constitutional Reform Act 2005. The Court is housed in a building opposite the Big Ben. The atmosphere in Court is genial, not forbidding. The court rooms are spacious and brightly lit. There is pin drop silence in the Court. Counsel respectfully answer occasional polite queries from the Bench without loud interruptions from counsel on the other side. The day I visited the Court it delivered an important judgment in which by a majority of 6 to 3 it ruled that the Human Rights Act 1998 did not apply to British armed forces on foreign soil, viz. Iraq. A noteworthy feature is that a concise press summary outlining the facts of the case, the legal issues involved and the reasons for the judgment is issued at the same time by the registry with the approval of the Court to “assist in understanding the Court’s decision”. Judgments of the Court are available on the same day.

(a) A shameful blot on our criminal justice system is the phenomenon of under-trials rotting in jails for periods longer than the maximum punishment imposable upon conviction.

(b) If this be judicial activism, it is most welcome because it enforces the right of under-trials to a speedy trial guaranteed by Article 21 of the Constitution.

(c) Adoption of this practice in our Supreme Court is worth consideration.

(d) In this context, the anguished observations of a Bench of the Delhi High Court, Comprising Chief Justice Dipak Misra and Justice Manmohan, were most timely.

(e) None of the above

Q11. A crisis in Indo-US relations has long been in the making. There is, of course, the massive shift in perceptions of India that frames the reception of events. India’s new economy used to be the darling of The New York Times, now its old society is subject to yawningly relentless indictment. India was the maturing great power, now it has become an infantile wannabe. It had a strong government, now it is flailing.

(a) The case has become a marker of our confusions over our relationship with the US.

(b) Our self-esteem is shaped by what others think of us.

(c) The Ugly Indian and Ugly American have rediscovered each other.

(d) The American liberal establishment has suddenly rediscovered an India that is reactionary, exploitative, deceitful, feudal and incapable of the rule of law.

(e) None of the above

Q12. Currently, India has more than 7 lakh teachers who are untrained and teaching in classrooms across the country. A further 5 lakh are expected to be recruited to fill in teacher vacancies. The DIET is able to cater to only 40% of the teachers in the country. In this context, distance education offers an opportunity for large-scale upgradation of teacher skills and qualifications.

(a) Currently, India has more than 7 lakh teachers who are untrained and teaching in classrooms across the country. A further 5 lakh are expected to be recruited to fill in teacher vacancies.

(b) The Government should scale up operations of IGNOU’s distance education program for teacher education, which is already collaborating with states to provide pre-service and in-service training to government teachers.

(c) Implementing a work-based curriculum will involve designing a textbook that has activities finely interwoven into the theory.

(d) If distance training is to be provided to all the untrained teachers, the capacity of the current distance education program will have to be increased.

(e) None of the above

Q13. It is a vicious circle. Girls are being discriminated against and hence, there are less girls being born. The lesser the number of girls the more in the society the higher the crime against them for sexual desires are not a taboo but a condition that needs to be taken into account in any society. Rapes are the most common occurrence in a society where not each man finds at least one woman for himself. The more the crime, the more women do not want girls to be born to “save” them from this life leading to lesser number of girls. We need to educate and make aware the root cause.

(a) Why I ask in this country, which has in his history held women in high regard, which prays to goddesses for SHAKTI, DHAN and PEACE are we so distant from ground realities of women who live amongst us.

(b) Even when the girls survive, we as a society in India have always given priority to the need of the men and boys in the house.

(c) It’s unnerving to think how women can do this to girls. How the educated, learned and aware women can commit such brutality.

(d) Yet rather than understanding the reason all the women who have been subject to these crimes either by family or fate do not want their girls to be born to avoid such a life for them.

(e) None of the above

Q14. While several feminists demand death penalty for rapists, even right-wing conservatives would also ask for the same. Why this convergence of interests? Extremist positions seem to create this problem quite frequently. While feminists would base it on the absolute right of a woman over her sexuality, the conservatives come from where a woman’s sexual ‘purity’ or ‘impurity’ defines her identity and place. Here India and Bharat (if such a demarcation exists) want the same, but one looks forward, while the other is regressive. Legitimacy for an argument drawn from cultural past is always problematic. Culture has, for the most part, evolved in ways in which a group is held inferior through elaborate myths and mythologies, it sustains status quo, it works through complicity of the group held inferior through incentives.

(a) Sacrifice is a woman’s test to greatness, not her mental acumen or control of her agency.

(b) So is it worthwhile for a woman to try to achieve the ideal in this scenario?

(c) A rational discussion on human rights requires freedom from the tendency of romanticization of culture, it needs to be peeled, its nuances understood, since it is very clear that an image of glorification of powerful women does not destroy or even nullify the more horrifying ground realities.

(d) Empowering though it may seem, this cultural representation is not very liberating.

(e) None of the above

Q15. The example set forth by Malala has helped bring the world’s focus on the very serious issue affecting the people in Malala’s country. Going against the odds, Malala had started to voice her defiance against the odds, Malala had started to voice her defiance against the Taliban for banning girls from going to school much before the world’s spotlight came to rest on her. She started blogging about the dismal situation of education for girls around her as early as in December 2009 and was also interviewed on local news channels. But her leap to international recognition after October 2012 gave her the platform to address the world, and on 12^th July 2013 she stood at the UN calling out for worldwide access to education.

(a) Malala, in her show of defiance, has sparked a movement.

(b) She has emerged as a global leader who seems to have every intention to use the pedestal she has acquired for the cause of education.

(c) The words uttered by her during her interview in The Jon Stewart Show, “But then if I hit a Talib with a shoe, then there would be no difference between you and the Talib……” clearly portrays that age isn’t a basis to be a leader.

(d) This young girl has started on a path to bring on a much needed change and with the world willing to lead her its support, one can always aspire to see her dream turning into a reality in the near future.

(e) None of the above

Solutions

S1. Ans.(a)

Sol. Option (a) is the most suitable because it acts as an actual conclusion to the idea presented in the passage, offering a final thought on the resolution of this conflict. Option (d) is another close answer but does not finish the passage in what feels like a conclusive manner. Options (b) and (c) restate what is mentioned in the passage itself.

S2. Ans.(b)

Sol. Option (b) continues and ends the thought expressed in the passage in the best way, while options (a), (c) and (d) take off on a different tangent altogether. Hence, (b) is the right answer.

S3. Ans.(d)

Sol. Option (d) is an extension of the concept of the possibility of President’s Rule mentioned in the paragraph and explains it in further detail, making it the best conclusion to the passage concerned.

S4. Ans.(a)

Sol. Option (a) explores the explanation behind such voter-behavior and concludes the passage most effectively.

S5. Ans.(b)

Sol. From the given options, option (b) seems the most conclusive while the rest leave the thread loose, without providing a rounding off statement to the passage. Thus, (b) is the correct answer.

S6. Ans.(d)

Sol. Option (d) best ends the passage, while (a), (c) and (d) continue the line of though expressed in the passage without providing the final link.

S7. Ans.(d)

Sol. The crucial clue in the passage is provided by the direct mention of the border dispute. Option (d) is the only one that makes a direct reference to the same, providing the crucial link and conclusion to the passage.

S8. Ans.(b)

Sol. Option (b) best sums up the idea presented in the passage.

S9. Ans.(a)

Sol. Option (b), (c) and (d) are all sentences that could come before the paragraph, but not ideally conclude it. They leave the idea rather open-ended and incomplete, while A best puts forth a conclusion.

S10. Ans.(c)

Sol. Option (a), (b) and (D) bear no direct relation with the content of the passage, nor they extend the idea it presents. Option (b) is confusing because it does not directly allude to anything, but this also makes it a wrong option. Thus (c) is the best answer.

S11. Ans.(a)

Sol. Option (a) is a conclusion while (b), (c) and (d) either build up or paraphrase what’s been said in the passage.

S12. Ans.(b)

Sol. The passage’s contents are accurately summed up by option (b) while (a), (c) and (d) just reiterate parts of it.

S13. Ans.(a)

Sol. The author’s purpose and sentiment are expressed succinctly in option A’s forceful concluding question.

S14. Ans.(c)

Sol. The options (a). (b) and (d) can be eliminated on the basis that it does not add anything to the line of thought already being discussed in the passage. Option (c) is the only one that not only does that but goes a step further and provides an authoritative conclusion.

S15. Ans.(d)

Sol. Option (d) talks of the future scenario with a thought for the reader to ponder over. Thus, option (d) is the best answer.

Banking Awareness

Q1. ____________, who represents the interests of the insured in searching for insurance coverage at the lowest cost and highest benefit to the insured. 

(a) Cashier

(b) Broker

(c) Agent

(d) Customer

(e) Banker

S1. Ans.(b)

Sol. Broker, who represents the interests of the insured in searching for insurance coverage at the lowest cost and highest benefit to the insured. The broker may also be an agent of the insurer for purposes of policy collection and delivery of the policy. 

Q2. In which among the following year National Insurance Company Limited (NICL) was incorporated?

(a) 1956

(b) 1949

(c) 1934

(d) 1919

(e) 1906

S2. Ans.(e)
Sol. National Insurance Company Limited (NICL) was incorporated in the year 1906. After nationalization it was merged, along with 21 foreign and 11 Indian companies, to form National Insurance Company Ltd.

Q3. Agriculture Insurance Company Of India Limited’ (AIC) was incorporated to exclusively cater to the insurance needs of the persons engaged in agriculture and allied activities in India under- 

(a) Companies Act, 1956 

(b) IRDA Act, 1999

(c) Reserve Bank of India Act, 1934

(d) SEBI Act, 1992

(e) None of the given options is true

S3. Ans.(a)
Sol. Agriculture Insurance Company Of India Limited (AIC) was incorporated to exclusively cater to the insurance needs of the persons engaged in agriculture and allied activities in India under the Companies Act, 1956 on 20th December 2002.

Q4. The written insurance contract that may include all clauses, riders and endorsements. It is called?

(a) Liabilities

(b) Premium

(c) Installment

(d) Policy

(e) Assets

S4. Ans.(d)
Sol. Policy is the written insurance contract that may include all clauses, riders and endorsements.

Q5. UHIS has launched by the Government of India is already in existence for persons and families below the poverty line with the element of subsidy from the Government. UHIS stands for-

(a) Universal Health Insurance System

(b) Universal Health Insurance Service

(c) Universal Health Insurance Scheme

(d) Universal Health Insurance Solutions

(e) Universal Health Insurance Scenario

S5. Ans.(c)
Sol. The Universal Health Insurance Scheme (UHIS) has launched by the Government of India is already in existence for persons and families below the poverty line with element of subsidy from the Government. In addition, the Rashtriya Swasthya Bima Yojana (RSBY) was also rolled out from by the Government to provide the health insurance coverage for Below Poverty Line (BPL) families.

Q6. Agriculture Insurance Company of India Limited (AIC) was incorporated in which year?

(a) 20th December 1999

(b) 20th December 2007

(c) 20th December 1992

(d) 20th December 2004

(e) 20th December 2002

S6. Ans.(e)
Sol. Agriculture Insurance Company Of India Limited (AIC) was incorporated to exclusively cater to the insurance needs of the persons engaged in agriculture and allied activities in India under the Companies Act, 1956 on 20th December 2002.

Q7. IBAI was incorporated as a Company under Section 25 of the Companies Act, 1956. What is the meaning of "B" in IBAI?

(a) Basel

(b) Broadcasting

(c) Board

(d) Brokers

(e) Banking

S7. Ans.(d)
Sol. Insurance Brokers Association of India (IBAI) was incorporated as a Company under Section 25 of the Companies Act, 1956.

Q8. Where is the head office of Agriculture Insurance Company of India Limited (AIC)?

(a) Hyderabad

(b) Mumbai

(c) New Delhi

(d) Kolkata

(e) Chennai

S8. Ans.(c)
Sol. The head office of Agriculture Insurance Company of India Limited (AIC) is in New Delhi.

Q9. Nippon Life Insurance has signed definitive agreements to invest Rs 2,265 crore (US$ 332.32 million) in order to increase its stake in Reliance Life Insurance from 26 per cent to 49 per cent. Nippon Life Insurance based in-

(a) Germany

(b) Japan

(c) Canada

(d) USA

(e) France

S9. Ans.(b)
Sol. Nippon Life Insurance, Japan’s second largest life insurance company, has signed definitive agreements to invest Rs 2,265 crore (US$ 332.32 million) in order to increase its stake in Reliance Life Insurance from 26 per cent to 49 per cent.

Q10. ___________ insurance gives protection to the vehicle owner against damages to his/her vehicle and pays for any Third Party Liability determined as per law against the owner of the vehicle. 

(a) Motor Insurance

(b) Travel Insurance

(c) Group Insurance

(d) Life Insurance

(e) Health Insurance

S10. Ans.(a)
Sol. Motor insurance gives protection to the vehicle owner against (i) damages to his/her vehicle and (ii) pays for any Third Party Liability determined as per law against the owner of the vehicle.  Third Party Insurance is a statutory requirement. The owner of the vehicle is legally liable for any injury or damage to third party life or property caused by or arising out of the use of the vehicle in a public place. Driving a motor vehicle without insurance in a public place is a punishable offence in terms of the Motor Vehicles Act, 1988.

Q11. Which among the following companies has not contributed towards the share capital of Agriculture Insurance Company of India Limited (AIC)? 

(a) Insurance Regulatory and Development Authority of India (IRDAI)

(b) General Insurance Corporation of India (GIC)

(c) National Bank for Agriculture and Rural Development (NABARD)

(d) Oriental Insurance Company Limited (OICL)

(e) National Insurance Company Limited (NICL)

S11. Ans.(a)
Sol. Promoters (Share Holding) of Agriculture Insurance Company of India Limited (AIC) is given below:-
General Insurance Corporation of India - 35 %
National Bank for Agriculture And Rural Development (NABARD) - 30 %
National Insurance Company Limited - 8.75 %
The New India Assurance Company Limited - 8.75 %
The Oriental Insurance Company Limited - 8.75 %
United India Insurance Company Limited - 8.75 %

Q12. Where is the head office of National Insurance Company Limited (NICL)?

(a) Hyderabad

(b) Kolkata

(c) New Delhi

(d) Mumbai

(e) Chennai

S12. Ans.(b)
Sol. The Head Office of National Insurance Company Limited (NICL) is in Kolkata.

Q13. What is the authorised capital of National Insurance Company Limited (NICL)?

(a) Rs.1500 crore 

(b) Rs.100 crore 

(c) Rs.200 crore

(d) Rs.500 crore 

(e) Rs.1000 crore

S13. Ans.(c)
Sol. The authorized capital and paid-up equity capital of the National Insurance Company Limited (NICL) is Rs.200 crore and Rs.100 crore respectively.

Q14. IRDAI has allowed insurers to invest up to ___________ in Additional Tier 1 (AT1) bonds, that are issued by banks to augment their tier 1 capital, in order to expand the pool of eligible investors for the banks.

(a) 25 per cent 

(b) 30 per cent 

(c) 20 per cent 

(d) 10 per cent

(e) 15 per cent

S14. Ans.(d)
Sol. IRDAI has allowed insurers to invest up to 10 per cent in additional tier 1 (AT1) bonds, that are issued by banks to augment their tier 1 capital, in order to expand the pool of eligible investors for the banks.

Q15. Who is the present Chairman of IRDAI?

(a) Harsh Kumar Bhanwala

(b) Kshatrapati Shivaji

(c) Urjit Patel

(d) Ajay Tyagi

(e) T S Vijayan

S15. Ans.(e)
Sol. Mr. T S Vijayan took charge as Chairman of Insurance Regulatory & Development Authority of India in February 2013. Since then Mr. Vijayan has been playing a key role in various initiatives for enhancing insurance awareness and making insurance affordable to all sections of population. He has also taken various measures for optimum utilization of technology in the insurance space.

IBPS

QUIZ-13

Q1. The government of India has recently set up a high-level task force to compute timely data on employment in the country, a move that will go a long way to help government frame policies and take steps that can create jobs in the country. The task force has been created under the chairmanship of _____________.
Answer: Arvind Panagariya

Q2. Markets regulator Stock Exchange board of India (SEBI) allowed investors to buy mutual fund schemes for up to _____________ through digital wallets.
Answer: Rs 50,000

Q3. India achieved a major technological breakthrough by successfully carrying out nuclear tests at Pokhran, Rajasthan. Technology Development Board, Ministry of Science and Technology has celebrated National Technology Day on _____________.
Answer: 11th May

Q4. Lake Baikal, the world’s oldest and deepest freshwater lake is situated in which country?
Answer: Russia

Q5. Who is the present Chairman of Dena Bank?
Answer: Ashwani Kumar

Q6. Bahrain is the capital city of _______________.
Answer: Manama

Q7. LIC Housing Finance launched a new product named ___________ which will offer loans for construction, purchase of the house or flat and repairs or renovation to the existing properties.
Answer: Griha Siddhi

Q8. The chief of which Bank has become the first Indian woman to be conferred with the prestigious Woodrow Wilson Award for Global Corporate Citizenship?
Answer: ICICI Bank

Q9. Name the player who was recently named as an Honorary Life Member of the Marylebone Cricket Club (MCC), London.
Answer: Buddhist Teachings for Social Justice and Sustainable World Peace
Answer: VVS Laxman

Q10. Name the present Chairman of LIC.
Answer: V K Sharma

Q11. Name the chief one of the famous Indian bank who has become the first Indian woman to be conferred with the prestigious Woodrow Wilson Award for Global Corporate Citizenship.
Answer: Chanda Kochhar

Q12. India has recently decided to replace the Maitri research station with a new one in the next three to four years. This Research station is located in _____________.
Answer: Antarctica

Q13. Shri Radha Mohan Singh, Union Minister for Agriculture and Farmers Welfare has recently launched an online interface at Krishi Bhawan in New Delhi. What is the name of this online interface?
Answer: e-Krishi Samvad

Q14. Name the Light combat aircraft that has successfully demonstrated an Air-to-Air Beyond Visual Range (BVR) missile firing capability by releasing Derby Air-to-Air BVR missile in RADAR guided mode in Odisha.
Answer: Tejas

Q15. Which state/states has been exempted by the government from mandatory quoting of Aadhaar to obtain PAN cards and file tax returns?
Answer: Jammu and Kashmir, Assam and Meghalaya