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DIRECTIONS/or questions 1 to 3.- Answer the following questions based on the information given below:
There are 100 employees in an organization across five departments. The following table gives the department-wise distribution of average age, average basic pay and allowances. The gross pay of an employee is the sum of his/her basic pay and allowances.
Department
Number of Employees
Average Age (Years)
Average Basic
Pay (Rs.)
Allowances
(% of Basic Pay)
HR
5
45
5000
70
Marketing
30
35
6000
80
Finance
20
30
6500
60
Business Development
35
42
7500
75
Maintenance
10
35
5500
50
There are limited numbers of employees considered for transfer/promotion across departments. Whenever a person is transferred/ promoted from a department of/ower average age to a department of higher average age, he/she will get an additional allowance of 1 0% of basic pay over and above his/her current allowance. There will not be any change in pay structure if a person is transferred/promoted from a department with higher average age to a department with lower average age.
Questions below are independent of each other.
What is the approximate percentage change in the average gross pay of the HR department due to transfer ofa 40-year old person with basic pay ofRs. 8000 from the Marketing department?
A.
9010
B.
11%
C.
13%
D.
15%
E.
17%
Correct Answer
C. 13%
Explanation The approximate percentage change in the average gross pay of the HR department due to the transfer of a 40-year-old person with a basic pay of Rs. 8000 from the Marketing department can be calculated as follows:
First, calculate the current average gross pay of the HR department by multiplying the average basic pay (Rs. 5000) by the number of employees (5) and adding the total allowances (70% of basic pay). This gives us a current average gross pay of Rs. 35,000 for the HR department.
Next, calculate the new average gross pay of the HR department after the transfer by adding the basic pay of the transferred employee (Rs. 8000) to the current average gross pay and adding the additional allowance of 10% of basic pay (Rs. 800). This gives us a new average gross pay of Rs. 43,800 for the HR department.
Finally, calculate the percentage change by subtracting the current average gross pay from the new average gross pay, dividing by the current average gross pay, and multiplying by 100. This gives us a percentage change of approximately 25%.
Therefore, the correct answer is not available.
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2.
There was a mutual transfer of an employee between Marketing and Finance departments and transfer of one employee from Marketing to HR. As a result, the average age of Finance department increased by one year and that of Marketing department rema.aed the same. What is the new average age ofHR department?
A.
30
B.
35
C.
40
D.
45
E.
Cannot be determined
Correct Answer
C. 40
Explanation Since the average age of the Marketing department remained the same, it means that the employee who transferred from Marketing to HR has the same age as the average age of the Marketing department. As a result, the average age of the HR department is also the same as the average age of the Marketing department, which is 40.
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3.
If two employees (each with a basic pay of Rs. 6000) are transferred from Maintenance department to HR department and one person (with a basic pay of Rs. 8000) was transferred from Marketing department to HR department, what will be the percentage change in average basic pay of HR department?
A.
10.5%
B.
12.5%
C.
15%
D.
30%
E.
40%
Correct Answer
B. 12.5%
Explanation The percentage change in average basic pay of the HR department can be calculated by finding the difference between the initial average basic pay and the final average basic pay, dividing it by the initial average basic pay, and then multiplying by 100. In this case, the initial average basic pay of the HR department is (2 * 6000 + 8000) / 3 = 6666.67. After the transfers, the final average basic pay of the HR department is (3 * 6000) / 3 = 6000. The difference is 6666.67 - 6000 = 666.67. Dividing this by the initial average basic pay and multiplying by 100 gives us (666.67 / 6666.67) * 100 = 10%. Therefore, the percentage change in average basic pay of the HR department is 10%, which is not one of the given answer choices. Since none of the answer choices match the correct calculation, the given answer of 12.5% is incorrect.
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4.
DIRECTIONS/or questions 4 to 8 : Answer the following questions based on the information given below:
Abdul, Bikram and Chetan are three professional traders who trade in shares of a company XYZ Ltd. Abdul follows the strategy of buying at the opening ofthe day at 10 am and selling the whole lot at the close of the day at 3 pm. Bikram follows the strategy of buying at hourly intervals: lOam, 11 am, 12 noon, 1 pm and 2 pm, and selling the whole lot at the close of the day. Further, he buys an equal number of shares in each purchase. Chetan follows a similar pattern as Bikram but his strategy is somewhat different. Chetan's total investment amount is divided equally among his purchases. The profit or loss made by each investor is the difference between the sale value at the close ofthe day less the investment in purchase. The "return" for each investor is defined as the ratio of the profit or loss to the investment amount expressed as a percentage.
Which one of the following statement is always true?
A.
Abdul will not be the one with the minimum return
B.
Return for Chetan will be higher than that of Bikram
C.
Return for Bikram will be higher than that ofChetan
D.
Return for Chetan cannot be higher that that of Abdul
E.
None of these
Correct Answer
E. None of these
5.
On a day of fluctuating market prices, the share price ofXYZ Ltd. ends with a gain, i.e., it is higher at the close of the day compared to the opening value. Which trader got the maximum return on that day?
A.
Bikram
B.
Chetan
C.
Abdul
D.
BikramorChetan
E.
Cannot be determined
Correct Answer
E. Cannot be determined
6.
On a "boom" day the share price ofXYZ Ltd. keeps rising throughout the day and peaks at the close of the day. Which trader got the minimum return on that day?
A.
Bikram
B.
Chetan
C.
Abdul
D.
Abdul or Chetan
E.
Cannot be determined
Correct Answer
A. Bikram
Explanation Bikram got the minimum return on that day because the share price kept rising throughout the day and peaked at the close. This implies that anyone who bought the shares earlier in the day would have seen their investment increase in value by the time the market closed. Since Bikram got the minimum return, it suggests that he either did not invest in XYZ Ltd. on that day or his investment did not increase significantly compared to the other traders.
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7.
One day, two other traders, Dane and Emily joined Abdul, Bikram and Chetan for trading in the shares of XYZ Ltd. Dane followed a strategy of buying equal numbers of shares at lOam, 11 am and 12 noon, and selling the same numbers at 1 pm, 2 pm and 3 pm. Emily, on the other hand, followed the strategy of buying shares using all her money at 10 am and selling all of them at 12 noon and again buying the shares for all the money at 1 pm and again selling all of them at the close of the day at 3 pm. At the close of the day the following was observed:
(i) Abdul lost money in the transactions.
(ii) Both Dane and Emily made profits.
(iii) There was an increase in share price during the closing hour compared to the price at 2 pm.
(iv) Share price at 12 noon was lower than the opening price.
Share price was at its highest at
A.
10 am
B.
11 am
C.
12 noon
D.
1 pm
E.
Cannot be determined
Correct Answer
A. 10 am
Explanation The share price was at its highest at 10 am because Emily followed a strategy of buying shares using all her money at 10 am. This implies that there was a high demand for shares at that time, which would have driven up the share price. Additionally, the fact that both Dane and Emily made profits suggests that the share price was favorable during the time they were buying shares, further supporting the idea that the share price was highest at 10 am.
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8.
Which of the following is necessarily false?
A.
Share price was at its lowest at 2 pm
B.
Share price was at its lowest at 11 am
C.
Share price at 1 pm was higher than the share price at 2 pm
D.
Share price at 1 pm was higher than the share price at 12 noon
E.
None of the above
Correct Answer
A. Share price was at its lowest at 2 pm
9.
Consider the following statements:
When two straight lines intersect, then:
I- adjacent angles are complementary
II- adjacent angles are supplementary
III- opposite angles are equal
IV- opposite angles are supplementary Of these statements:
A.
(I) and (III) are correct
B.
(II) and (III) are correct
C.
(I) and (IV) are correct
D.
(II) and (IV) are correct
Correct Answer
B. (II) and (III) are correct
Explanation The correct answer is (II) and (III) are correct. When two straight lines intersect, adjacent angles are supplementary, meaning that the sum of their measures is 180 degrees. Additionally, opposite angles formed by the intersection of two straight lines are equal in measure.
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10.
For constructing the working class consumer price index number of a particular town, the following
weights corresponding to different group of items were assigned: Food-55, Fuel-15, Clothing -10, Rent -8 and Miscellaneous-I 2. It is known that the rise in food prices is double that offuel and the rise in miscellaneous group prices is double that of rent. In October 2006, the increased D.A. by a factory of that town by 182% fully compensated for the rise in prices of food and rent but did not compensate for anything else. Another factory of the same locality increased D.A. by 46.5%, which compensated for the rise in fuel and miscellaneous groups.
Which is the correct combination of the rise in prices of food, fuel, rent and miscellaneous groups?
A.
320.14,159.57,95.64,166.82
B.
317.14,158.57,94.64,189.28
C.
311.14,159.57,90.64, 198.28
D.
321.14,162.57,84.46,175.38
Correct Answer
B. 317.14,158.57,94.64,189.28
Explanation The correct combination of the rise in prices of food, fuel, rent, and miscellaneous groups is 317.14, 158.57, 94.64, 189.28. This can be determined by using the given weights assigned to each group and the information that the rise in food prices is double that of fuel, and the rise in miscellaneous group prices is double that of rent. The increase in D.A. fully compensates for the rise in prices of food and rent, but not for anything else. Therefore, by comparing the given options, the only combination that satisfies these conditions is 317.14, 158.57, 94.64, 189.28.
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