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    REASONING APTITUDE

    Directions (1-5): Study the following information carefully

    and answer the questions given below.

    Five projects P, Q, R, S and T are to be completed, each

    project on each month, from January to June of the same

    year. Projects P will be completed immediately before T and

    project Q will be completed before S. Project Q and S will not

    be completed on the first month. There will be one leave

    month denoted by L. There will be a gap of two months

    between the months on which project S and Q will be

    completed. Project R will be completed immediately before

    the leave month. The leave month will not be the second or

    the fourth month.

    1. On which month will Project R be completed?

    (a) February (b) April (c) May

    (d) Cant be determined (e) None of these

    2. How many months gap will be there between the

    months on which Project T and Q will be completed?

    (a) None (b) One (c) Two

    (d) Three (e) Four

    3. Which of the following projects will be completed on

    January?

    (a) R (b) Q (c) P

    (d) T (e) None of these

    4. On which month Project S will be completed?

    (a) January (b) April (c) May

    (d) June (e) None of these

    5. Which of the following statements is/are true?

    (a) There is two months gap between T and S.

    (b) Project Q will be completed immediately after leave

    month.

    (c) Leave month will be between S and R.

    (d) All are true

    (e) None of these.

    Directions (6-10): In these questions, a relationship

    between different elements is shown in the statements(s).

    The statements are followed by two conclusions. Give

    answer

    (a) If only conclusion I is true.

    (b) If only conclusion II is true.

    (c) If either conclusion I or II is true.

    (d) If neither conclusion I nor II is true.

    (d) If both conclusions I and II are true.

    6. Statements: A > B C < D, C = E > G

    Conclusions: I. D > E II. B > E

    7. Statements: P Q > M N, Q = S

    Conclusions: I. S > P II. N < S

    8. Statements: S > M = Z > T < Q > V

    Conclusions: I. V = S II. Q > M

    9. Statements: T < U = V S > P Q

    Conclusions: I. S > T II. V Q

    10. Statements: M N > R > W, E = J > L W

    Conclusions: I. E > W II. M > L

    Directions (11-15): Study the given information and

    answer the following questions.

    In a certain code language,

    go to the park is written as et ge ud hu

    park full of children is written as bo ud dr cx

    the play of children is written as dr hu cx kl

    to play full time is written as sy et bo kl

    (All the codes are two letter codes)

    11. Which of the following possibly means play time in the

    given code language?

    (a) pa et (b) sy kl (c) sy pa

    (d) dr et (e) sy bo

    12. What does kl stand for in the given code language?

    (a) play (b) None of the given options

    (c) to (d) go (e) full

    13. In the given code language, what does cx stand for?

    (a) Either of or children (b) park

    (c) play (d) full

    (e) Either play or park

    14. In the given code language, what is the code for park?

    (a) et (b) dr (c) ge

    (d) bo (e) ud

    15. What is the code for the in the given code language?

    (a) hu (b) cx (c) dr

    (d) et (e) ge

    Directions (1620): Study the following information

    carefully and answer the given questions.

    Eight family members A, B, C, D, E, F, G and H are sitting

    around a circular table, facing the centre but not necessarily

    in the same order.

    F, the wife of D is sitting third to the right of C. A is the son of

    H. A is sitting second to the left of D. D is not an immediate

    neighbour of either F or C. No male is an immediate neighbor

    of D. G sits second to the left of Ds son. Only two persons sit

    between H and As brother. Neither C nor D is the brother of

    A. Ds son and the wife of Ds son are immediate neighbours

    of each other. F is the mother of H. F is not an immediate

    neighbour of B and G. G is the sister of E.

    16. Who amongst the following is Ds son?

    (a) E (b) G (c) A

    (d) B (e) Cannot be determined

    17. Who sits second to the left of G?

    (a) As brother (b) Gs mother (c) D

    (d) Father (e) As aunt

    18. How many people sit between A and his brother,

    counting by clock-wise direction from A?

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    (a) None (b) One (c) Two

    (d) Three (e) Four

    19. Who amongst the following sits exactly between H and

    F?

    (a) Ds wife (b) Ds son (c) C

    (d) B (e) A

    20. Who amongst the following is the brother of A?

    (a) E (b) G (c) A

    (d) B (e) Cannot be determined

    Directions (2125): Study the following arrangement

    carefully and answer the questions given below:

    B 4 S T U V K 3 % F @ L N 5 P 1 O $ E 2 D C 6 # 9 Z Q8 W

    M A

    21. Which of the following is sixth to the left of the fifteenth

    from the left end of the given arrangement?

    (a) 2 (b) # (c) %

    (d) $ (e) Other than the given as option

    22. How many such numbers are there in the given

    arrangement each of which is immediately preceded by

    a consonant but not immediately followed by a letter?

    (a) One (b) None (c) Five

    (d) Two (e) Four

    23. How many such symbols are there in the arrangement,

    each of which is immediately followed by a letter but not

    immediately preceded by a number?

    (a) One (b) Three (c) None

    (d) Two (e) More than three

    24. What should come in place of question mark (?) in the

    following series based on the above arrangement?

    TV3 @L5 OED ?

    (a) 69Q (b) #Z8 (c) 6#9

    (d) #9Z (e) Other than the given options

    25. Four of the following five are alike in a certain way based

    on their positions in the given arrangement and so from

    a group. Which is the one that does not belong to that

    group?

    (a) DC6 (b) @L (c) 9ZQ

    (d) 5P1 (e) #MW

    Directions (26-30): Study the following information

    carefully to answer the question given below:

    Seven persons M, N, O, P, Q, R and S are standing in a straight

    line facing north at equal distance but not necessarily in the

    same order. Each of them is a different professional

    Probationary officer, Journalist, Clerk, Engineer,

    Businessman, Manager and Singer but not necessarily in the

    same order.

    S is standing at the fifth position to the left of O. Journalist is

    standing at the third position to the right of S. R is standing

    at the fifth position to the right of M. Q is standing second to

    the left of N. Engineer is standing the second position to the

    left of P. Three persons are standing between Engineer and

    Singer. Clerk is to the immediate left of Engineer.

    Businessman is to the immediate right of manager.

    26. Who among the following is standing second to the right

    of Manager?

    (a) O (b) N (c) Businessman

    (d) Probationary officer (e) None of these

    27. Who among the following are the immediate neighbors

    of Singer?

    (a) Clerk and Businessman

    (b) Probationary officer and Businessman

    (c) Journalist and Probationary officer

    (d) Businessman and Journalist

    (e) None of these

    28. Who among the following is standing exactly in the

    middle of the row?

    (a) R (b) Businessman (c) O

    (d) Journalist (e) Manager

    29. Who is standing at the left end of the row?

    (a) M (b) N (c) O

    (d) P (e) None of these

    Q30. How many persons are there to the left of Journalist?

    (a) One (b) Two (c) Three

    (d) Four (e) None of these

    Directions (31-35): Study the following information

    carefully to answer the given questions:

    Seven neighbours S, P, L, Q, R, M and I live on different floors

    in the same building having seven floors numbered one to

    seven. (The first floor is numbered one, the floor above it is

    numbered two and so on and the topmost floor is numbered

    as seven.)

    Three persons live between I and M. M lives on the floor

    above S, who does not live on an odd-numbered floor. P is

    neither live on odd number nor topmost floor. I does not live

    on the first floor.

    Two persons live between R and S. Q lives neither on the first

    floor nor on the fourth floor. M does not live on topmost

    floor.

    31. Who lives on the floor just above M?

    (a) L (b) P (c) Q

    (d) R (e) None of these

    32. How many persons live between L and P?

    (a) None (b) One (c) Two

    (d) Three (e) Cant be determined

    33. Which of the following pairs live on the first floor and

    the topmost floor respectively?

    (a) L, Q (b) Q, P (c) I, Q

    (d) L, I (e) Cant be determined

    34. Who among the following lives on the topmost floor?

    (a) I (b) Q (c) P

    (d) L (e) None of these

    35. Which of the following combinations is true?

    (a) First floor-S (b) Fourth floor-R (c) Third floor-M

    (d) Sixth floor-I (e) None of these

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    (1-5):

    :

    P, Q, R, S T ,

    P, T

    Q, S Q S

    L

    S Q

    , R,

    1. R ?

    (a) (b) (c)

    (d) (e)

    2. T Q

    ?

    (a) (b) (c)

    (d) (e)

    3. ?

    (a) R (b) Q (c) P

    (d) T (e)

    4. S ?

    (a) (b) (c)

    (d) (e)

    5. / ?

    (a) T S 2

    (b) Q,

    (c) S R

    (d)

    (e)

    (6-10): ,

    -

    6. A > B C < D, C = E > G

    I. D > E II. B > E

    (a) I

    (b) II

    (c) I II

    (d) I II

    (e) I II

    7. P Q > M N, Q = S

    I. S > P II. N < S

    (a) I

    (b) II

    (c) I II

    (d) I II

    (e) I II

    8. S > M = Z > T < Q > S

    I. V = S II. Q > M

    (a) I

    (b) II

    (c) I II

    (d) I II

    (e) I II

    9. T < U = V S > P Q

    I. S > T II. V Q

    (a) I

    (b) II

    (c) I II

    (d) I II

    (e) I II

    10. M N > R > W, E = J > L W

    I. E > W II. M > L

    (a) I

    (b) II

    (c) I II

    (d) I II

    (e) I II

    (11-15):

    :

    ,

    go to the park et ge ud hu

    park full of children bo ud dr cx

    the play of children dr hu cx kl

    to play full time sy et bo kl

    ( )

    11.

    play time ?

    (a) pa et (b) sy kl (c) sy pa

    (d) dr et (e) sy bo

    12. kl ?

    (a) play (b)

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    (c) to (d) go (e) full

    13. cx ?

    (a) of children (b) park

    (c) play (d) full

    (e) play park

    14. park ?

    (a) et (b) dr (c) ge

    (d) bo (e) ud

    15. the ?

    (a) hu (b) cx (c) dr

    (d) et (e) ge

    (16-20):

    :

    A, B, C, D, E, F, G H

    D F, C A, H

    A, D D, F C

    D

    G, D H A

    C D, A

    D D ,

    F,H F, B G

    G, E

    16. D ?

    (a) E (b) G (c) A

    (d) B (e)

    17. G ?

    (a) A (b) G (c) D

    (d) (e) A

    18. A A

    ?

    (a) (b) (c)

    (d) (e)

    19. H F ?

    (a) D (b) D (c) C

    (d) B (e) A

    20. A ?

    (a) E (b) G (c) A

    (d) B (e)

    (21-25):

    :

    B 4 S T U V K 3 % F @ L N 5 P 1 O $ E 2 D C 6 # 9 Z Q8 W

    M A

    21. ,

    ?

    (a) 2 (b) # (c) %

    (d) $ (e)

    22. ,

    ?

    (a) (b) (c)

    (d) (e)

    23. ,

    , ?

    (a) (b) (c)

    (d) (e)

    24.

    (?) ?

    TV3 @L5 OED ?

    (a) 69Q (b) #Z8 (c) 6#9

    (d) #9Z (e)

    25.

    ?

    (a) DC6 (b) @L (c) 9ZQ

    (d) 5P1 (e) #MW

    (26-30):

    :

    M, N, O, P, Q, R S

    , , , , ,

    S, O , S

    R, M Q, N

    , P

    ,

    ,

    26.

    ?

    (a) O (b) N (c)

    (d) (e)

    27. ?

    (a)

    (b)

    (c)

    (d)

    (e)

    28. ?

    (a) R (b) (c) O

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    (d) (e)

    29. ?

    (a) M (b) N (c) O

    (d) P (e)

    30. ?

    (a) (b) (c)

    (d) (e)

    (31-35):

    S, P, L, Q, R, M I

    - ( 1

    2

    )

    I M M, S

    , P

    I

    R S Q

    M

    31. M ?

    (a) L (b) P (c) Q

    (d) R (e)

    32. L P ?

    (a) (b) (c)

    (d) (e)

    33. :

    ?

    (a) L, Q (b) Q, P (c) I, Q

    (d) L, I (e)

    34. ?

    (a) I (b) Q (c) P

    (d) L (e)

    35. ?

    (a) S (b) -R

    (c) M (d) -I

    (e)

    NUMERICAL ABILITY

    Directions (36-40): What should come in place of the question mark (?) in the following series ? 36. 10, 15, 45, 270, 3240, ?

    (a) 72250 (b) 77760 (c) 75260 (d) 85280 (e) 762560

    37. 8, 15, 29, 50, 78, ? (a) 110 (b) 112 (c) 108 (d) 114 (e) 113

    38. 17, 10, 74, 199, 415, ? (a) 650 (b) 668 (c) 758 (d) 754 (e) 766

    39. 2, 1, 1, 1.5, 3, ? (a) 8 (b) 9.5 (c) 7.5 (d) 8.5 (e) 12

    40. 12, 26, 81, 328, 1645, ? (a) 9981 (b) 8281 (c) 7321 (d) 9876 (e) 9978

    41. The average weight of 45 students in a class is 52 kg. 5 of them whose average weight is 48 kg leave the class and other 5 students whose average weight is 54 kg join the class. What is the new average weight (in kg) of the class?

    (a) 52.6 (b) 522

    3 (c) 52

    1

    3

    (d) None of these (e) 51 42. A dishonest grocer professes to sell pure butter at cost

    price, but he mixes it with adulterated fat and thereby gains 25%. Find the percentage of adulterated fat in the mixture assuming that adulterated fat is freely available.

    (a) 20% (b) 25% (c) 33.33% (d) 40% (e) None of these

    43. Madan pays income tax at the rate of 10%. If his income increased by 10% and his tax rate increase to 15%. His net income would increase by Rs. 350. What is Madans income ? (a) Rs. 8000 (b) Rs. 10,000 (c) Rs. 12,000 (d) Rs. 14,000 (e) None of these

    44. The percentage profit earned by selling an article for Rs. 1920 is equal to the percent loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit ? (a) Rs. 2000 (b) Rs. 2200 (c) Rs. 2400 (d) Cant be determined (e) None of these

    45. A dealer offers a cash discount of 20% and still makes a profit of 20%, when he further allows 16 articles to a dozen to a particularly sticky bargainer. How much per cent above the cost price were his wares listed ? (a) 100% (b) 80% (c) 75%

    (d) 66

    3 % (e) None of these

    46. The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50 . The difference between their rates of interest is: (a) 0.1% (b) 0.2% (c) 0.3% (d) 0.4% (e) None of these

    47. The ratio of the price of two houses and was 4 : 5 last year. This year, the price of is increased by 25%

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    and that of by Rs. 50000. If their prices are now in the ratio 9 : 10, the price of last year was : (a) Rs. 3,60,000 (b) Rs. 4,50,000 (c) Rs. 4,80,000 (d) Rs. 5,00,000 (e) None of these

    48. Two pipes can fill a cistern in 6 minutes and 7 minutes respectively. Both the pipes are opened alternatively for 1 minute each. In what time will they fill the cistern.

    (a) 6 minutes (b) 62

    3 minutes (c) 6

    3

    7 minutes

    (d) 31

    2 minutes (e) None of these

    49. Raju can do a piece of work in 10 days, Vicky in 12 days and Tinku in 15 days. They all start the work together, but Raju leaves after 2 days and Vicky leaves 3 days before the work is completed. In how many days is the work completed ? (a) 5 days (b) 6 days (c) 7 days (d) 8 days (e) None of these

    50. A plane left 30 min later than its scheduled time to reach its destination 1500 km away. In order to reach in time it increases its speed by 250 km/hr. What is its original speed ? (a) 1000 km/h (b) 750 km/h (c) 600 km/h (d) 800 km/h (e) None of these

    Directions (51-55): Study the following table and answer the questions based on it. Given below is the line graph which shows the percentage rise in price of Wheat & Rice over the given years.

    Percentage rise in price

    YEAR Wheat Rice

    2011 12.5 10

    2012 15 10

    2013 10 15

    2014 20 5

    2015 15 20

    51. If ratio between price of rice & wheat in 2014 is 3 : 4 then what will be their ratio of price in 2015 (a) 20 : 23 (b) 19 : 21 (c) 18 : 23 (d) 23 : 28 (e) 17 : 19

    52. If price of wheat in year 2011 is 7200 Rs /Quintal then what will be its price in year 2013 (a) 8420 (b) 9012 (c) 10500 (d) 83250 (e) 9108

    53. What is the effective percentage increase in price of wheat from year 2011 to year 2013 (a) 30% (b) 22% (c) 23.5% (d) 26.5% (e) 32.75%

    54. If a person expends Rs 4140 in buying rice at the rate of 120 Rs/kg in year 2012 then he has to reduce his consumption of rice by how many kg in year 2013 for the same expenditure of 4140. (a) 4.5 kg (b) 3 kg (c) 2 kg (d) 2.5 kg (e) 4 kg

    55. If the price of wheat in 2013 is 132 Rs/kg then what will be total cost of 25 kg of wheat in 2012. (a) 1250 Rs (b) 3000 Rs (c) 1500 Rs (d) 2000 Rs (e) 2500 Rs

    Directions (56-70): What will come in place of question mark (?) in the following questions?

    56. 4.4 times of 5

    16 of 30% of 216 = ?

    (a) 81.9 (b) 83.7 (c) 87.3 (d) 89.1 (e) None of these

    57. (? % 1764 5) = 149.8 112

    (a) 18 (b) 18 (c) 324 (d) 24 (e) None of these

    58. 7072 (16% of 884) = 30 11

    12 of (? 39)

    (a) 60 (b) 62 (c) 65 (d) 55 (e) 67

    59. (13 + 25) =? 5 + 189 (a) 26 (b) 25 (c) 52 (d) 130 (e) None of these

    60. ?

    128=

    162

    ?

    (a) 12 (b) 144 (c) 14 (d) 196 (e) None of these

    61. 8743 + 486 18 148 = ? (a) 13729 (b) 12739 (c) 12729 (d) 13279 (e) None of these

    62. [(135) 15 39] ? = 60 52 (a) 15.1875 (b) 16.18 (c) 17.18 (d) 19 (e) 20.19

    63. 6348 + 8515 695 - ? = 4312 + 2162 (a) 7394 (b) 7943 (c) 7439 (d) 7434 (e) 7694

    64. 1272 ? = 1382 956 214 (a) 6 (b) 8 (c) 16 (d) 18 (e) 21

    65. 1037 10-33 = 10? (a) 4 (b) 7 (c) 6 (d) 5 (e) None of these

    66. 3251+ 587 + 369 ? = 3007 (a) 1250 (b) 1300 (c) 1375 (d) 1400 (e) None of these

    67. 18.6 3 + 7.2 16.5 = ? + 21.7 (a) 35.7 (b) 21.6 (c) 24.8 (d) 27.6 (e) None of these

    68. 359373

    1331 = 121 ? (a) 443 (b) 673 (c) 363 (d) 303 (e) None of these

    69. 56% of 225 + 20% of 150 = ? 109 (a) 49 (b) 103 (c) 53 (d) 47 (e) None of these

    70. 80% of 650 25 % of ? = 60% of 440 (a) 1210 (b) 1024 (c) 1035 (d) 1004 (e) None of these

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    Directions (36-40): (?)

    ? 36. 10, 15, 45, 270, 3240, ?

    (a) 72250 (b) 77760 (c) 75260 (d) 85280 (e) 762560

    37. 8, 15, 29, 50, 78, ? (a) 110 (b) 112 (c) 108 (d) 114 (e) 113

    38. 17, 10, 74, 199, 415, ? (a) 650 (b) 668 (c) 758 (d) 754 (e) 766

    39. 2, 1, 1, 1.5, 3, ? (a) 8 (b) 9.5 (c) 7.5 (d) 8.5 (e) 12

    40. 12, 26, 81, 328, 1645, ? (a) 9981 (b) 8281 (c) 7321 (d) 9876 (e) 9978

    41. 45 52

    5, 48 ,

    5 54

    (

    )

    (a) 52.6 (b) 522

    3 (c) 52

    1

    3

    (d) (e) 51

    42.

    , 25%

    ,

    (a) 20% (b) 25% (c) 33.33%

    (d) 40% (e)

    43. 10%

    10%

    15% 350

    ?

    (a) 8000 (b) 10,000 (c) 12,000

    (d) 14,000 (e)

    44. 1920 ,

    1280

    25%

    ?

    (a) 2000 (b) 2200 (c) 2400

    (d) (e)

    45. 20%

    16

    , 20%

    , ? (a) 100% (b) 80% (c) 75%

    (d) 66

    3 % (e)

    46. 1500 - 3

    13.50

    : (a) 0.1% (b) 0.2% (c) 0.3%

    (d) 0.4% (e)

    47. A B 4 : 5

    , A 25% B

    50000

    9 : 10 , A ?

    (a) 3,60,000 (b) 4,50,000 (c)4,80,000

    (d) 5,00,000 (e)

    48. : 6 7

    1

    ?

    (a) 6 (b) 62

    3 (c) 6

    3

    7

    (d) 31

    2 (e)

    49. 10 , 12

    15

    ,

    ?

    (a) 5 (b) 6 (c) 7

    (d) 8 (e)

    50. 1500

    30

    250 /.

    ?

    (a) 1000 / (b) 750 / (c) 600 /

    (d) 800 / (e)

    Directions (51-55):

    ,

    2011 12.5 10

    2012 15 10

    2013 10 15

    2014 20 5

    2015 15 20

    51. 2014 3 : 4

    , 2015 - (a) 20 : 23 (b) 19 : 21 (c) 18 : 23 (d) 23 : 28 (e) 17 : 19

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    52. 2011 7200 ./ , 2013

    ? (a) 8420 (b) 9012 (c) 10500 (d) 83250 (e) 9108

    53. 2011 2013

    ? (a) 30% (b) 22% (c) 23.5% (d) 26.5% (e) 32.75%

    54. 2012 120./

    4140 . , 4140

    2013

    ?

    (a) 4.5 (b) 3 (c) 2

    (d) 2.5 (e) 4

    55. 2013 132 ./ , 2012 25

    ?

    (a) 1250 . (b) 3000 . (c) 1500 .

    (d) 2000 . (e) 2500 .

    (56-70): (?)

    ?

    56. 216 30% 5

    16 4.4 = ?

    (a) 81.9 (b) 83.7 (c) 87.3

    (d) 89.1 (e)

    57. ( 1764 ? % 5 ) = 149.8 112

    (a) 18 (b) 18 (c) 324

    (d) 24 (e)

    58. 7072 (884 16%) = 30 (? 39) 11

    12

    (a) 60 (b) 62 (c) 65 (d) 55 (e) 67

    59. (13 + 25) =? 5 + 189 (a) 26 (b) 25 (c) 52

    (d) 130 (e)

    60. ?

    128=

    162

    ?

    (a) 12 (b) 144 (c) 14

    (d) 196 (e) 61. 8743 + 486 18 148 = ?

    (a) 13729 (b) 12739 (c) 12729

    (d) 13279 (e) 62. [(135) 15 39] ? = 60 52

    (a) 15.1875 (b) 16.18 (c) 17.18 (d) 19 (e) 20.19

    63. 6348 + 8515 695 - ? = 4312 + 2162 (a) 7394 (b) 7943 (c) 7439 (d) 7434 (e) 7694

    64. 1272 ? = 1382 956 214 (a) 6 (b) 8 (c) 16 (d) 18 (e) 21

    65. 1037 10-33 = 10? (a) 4 (b) 7 (c) 6

    (d) 5 (e) 66. 3251+ 587 + 369 ? = 3007

    (a) 1250 (b) 1300 (c) 1375

    (d) 1400 (e) 67. 18.6 3 + 7.2 16.5 = ? + 21.7

    (a) 35.7 (b) 21.6 (c) 24.8

    (d) 27.6 (e)

    68. 359373

    1331 = 121 ? (a) 443 (b) 673 (c) 363

    (d) 303 (e)

    69. 225 56% + 150 20% = ? 109 (a) 49 (b) 103 (c) 53

    (d) 47 (e)

    70. 650 80% ? 25 % = 440 60% (a) 1210 (b) 1024 (c) 1035

    (d) 1004 (e)

    ENGLISH LANGUAGE

    Directions (71-80): Read the passage carefully and answer the questions given below it. Certain words/ phrases are given in bold to help you locate them while answering some of the questions. Though cash is king in business, it is the simplest item to value under any method of valuation. To value cash there is no need to use complex methodologies such as discounted cash flow (DCF) or to make complex assumptions such as growth rate or discount rate. Nor do you need expert valuers (like you need for valuation of fixed assets like land and buildings). The general assumption is cash is always valued at face value. The current controversy on valuation in the proposed merger of Cairn India with Vedanta Resources centres on

    valuation of cash and raises a doubt about the above principle of valuation of cash. Valuing cash at face value may not be valid in some exceptional circumstances. While valuing the company or shares, if the company has cash surplus of a normal magnitude the recommended method is to value the business and add the; cash surplus at face value to arrive at the total value of the company. Then the question arises what is to be done in case the cash surplus is large. Before answering this we need clarity on what the definition of large cash surplus is. When the surplus generated is held as cash in the normal course of business cycle or accumulated and held temporarily as cash to meet a large defined investment

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    within a short period of time (say maximum of two or three years) then such cash fall within the definition of normal cash surplus to be valued at face value. In the case of Cairn, cash is about one third of book value, which doesn't come under the definition of cash surplus in the normal course of operation. Hence in this case cash can he valued a face value only if it is held for a specific identified investment to be made within a few years and the business valuation factors the financial benefit flowing from such identified investment. There is also a possible exception to this rule of valuation, i.e. valuing large cash surplus at face value without a specific investment plan. This exception applies when the price consideration of the company or share with large cash surplus is paid to the current owner in cash. In this case the seller sells cash for cash and hence it is fair to value cash at face value irrespective of the size of cash surplus and there is no need for investment plan for large surplus cash In case of valuation for mergers, the above exemption can't apply as the shareholders of the merging company generally get shares, and not cash. Maybe in recognition of this principle, the merger scheme of Cairn with Vedanta provides for some cash (in the form of short-term security) component in the swap ratio offered to Cairn shareholders. Despite this, some minority shareholders of Cairn object to the valuation, possibly because this portion of compensation is less than 20 per cent of cash surplus of Cairn. Then comes the complex question of how to value cash, which is larger than cash surplus in the normal course of business, nor held for a specific investment and the consideration for transfer of cash is not paid in cash. The cash in this case is to be valued based on opportunistic value for the seller and the alternative cost of raising such cash for the buyer. Both these values are extremely subjective and vaguer than well-defined methods of valuations such as DCF, profit multiple or replacement value. Hence, they will always be subject to controversies. 71. How is the total value of a company with cash surplus of

    a normal magnitude arrived at? Answer in the context of the passage. (a) By calculating the present value of all assets (b) By deducting the net value of all liabilities from the

    net value of all assets (c) By adding the cash surplus at face value to the value

    of the business (d) By calculating the present value of the net assets

    after adjusting the amount of outstanding loans. (e) Not clear from the passage

    72. What is/are the different methods of valuing cash? (A) Growth rate method (B) Discounted cash flow method (C) Discount rate method

    (a) Only (A) and (B) (b) Only (B) and (C) (c) Only (A) and (C) (d) All (A ), (B) and (C) (e) Other than given options

    73. Which of the following is not true in the context of the given passage? (a) Valuing cash at face value is valid only in some

    exceptional circumstances. (b) Not only customers but also cash is the king in

    business. (c) The different methods of valuing cash failed to clear

    controversy on valuation of Cairn India and Vedanta Resources.

    (d) Only (a) and (b) (e) Only (b) and (c)

    74. What is the possible exception to the rule of valuation? (a) Valuing large cash surplus at market value (b) Valuing large cash surplus at face value without a

    specific investment plan (c) Valuing large cash surplus at face value without

    valuing the fixed assets like and buildings (d) Valuing cash at face value irrespective of the size of

    the cash surplus (e) None of these

    75. What is the intention of the author behind writing this passage? (a) How to value cash in corporate world (b) How to value large cash surplus in the normal

    course of business and not held for a specific investment plan

    (c) How to value cash on the face value including assets like land and building

    (d) To expose Cairn India and Vedanta Resource Centre controversy

    (e) All the above Directions (76-79): Choose the word/group of words which is MOST SIMILAR in meaning to the word/ group of words printed in bold as used in the passage. 76. Exemption

    (a) rule (b) plan (c) concession (d) provision (e) policy

    77. Extremely (a) unfairly (b) unjustly (c) certainly (d) highly (e) falsely

    78. Vaguer (a) certain (b) ambiguous (c) sure (d) clear (e) definite

    79. Magnitude (a) importance (b) size (c)mark (d) insignificance (e) weightage

    Directions (80): Choose the word/group of words which is MOST OPPOSITE in meaning of the word/group of words printed in bold as used in the passage. 80. Assumption

    (a) conjecture (b) guess (c) inference (d) postulate (e) doubt

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    Directions (81-85): In the following questions, a sentence has been given with some of its part in bold. To make the sentence correct, you have to replace the bold part with the correct alternative given below. If the sentence is correct as it is, please give 5) as you answer (i.e. No correction required). 81. Police suspect personal enemy to be the motive behind

    the murder. (a) personal enmity to be (b) personnel enmity to be (c) personal being enemy to (d) personnel being enemy of (e) No correction required

    82. The court confirmed the death sentence awarded by the trial court and affirmed by the High court for making war in India. (a) for creating war in (b) for causing war within (c) for waging war against (d) for fighting war inside (e) No correction required

    83. The boy said that the teacher chided and pinched him on the cheeks for not writing an answer right. (a) writing an answer rightly (b) right answer writing (c) to right answer writing (d) answer rightly (e) No correction required

    84. Confidence is the first step to lay the foundation stone of your defined success to reach on your preferred destination. (a) onto your preferred (b) your preferred (c) on your preference (d) your preferential (e) No correction required

    85. Santosh Yadav climbed twice on the Mount Everest to prove that courageous and preservation can vanish all obstacles into air. (a) courage and preservation can (c) courage and preservation should (c) courageous and perseverance can (d) courage and perseverance can (e) No correction required Directions

    Directions (86-90): Rearrange the following six sentence (A), (B), (C), (D), (E) and (F) in the proper sequence to form a meaningful paragraph and then answer the questions given below. (A) It provides the bulk of goods required by non-

    agriculture sectors and most of the raw materials for the industries sector.

    (B) This was the highest-ever food grains production. (C) The combined efforts of Central Government, State

    governments and the farming community have succeeded in achieving record production of 259.9 million tons of food grains during 2011- 12.

    (D) Agriculture is the principal source of livelihood for more than 55 per cent of the population of this country.

    (E) This is backed by remunerative prices for various crops through enhanced minimum supportive prices (MSP) in successive years.

    (F) This record production has been achieved through effective transfer of latest crop production technologies to farmers under various crop development schemes.

    86. Which of the following should be the FIRST sentence after rearrangement? (a) B (b) A (c) C (d) E (e) D

    87. Which of the following should be the SECOND sentence after rearrangement? (a) A (b) B (c) E (d) D (e) C

    88. Which of the following should be the THIRD sentence after rearrangement? (a) E (b) D (c) B (d) C (e) A

    89. Which of the following should be the FOURTH sentence after rearrangement? (a) F (b) C (c) B (d) A (e) E

    90. Which of the following should be the LAST (SIXTH) sentence after rearrangement? (a) D (b) E (c) A (d) F (e) B

    Directions (91-95): Read each sentence to find out whether there is any grammatical or idiomatic error in it. The error, if any, will be in one part of the sentence. The number of that part is the answer. If there is 'No error', the answer is (e). (Ignore errors of punctuation, if any.) 91. (a) Scientists have reported definitive signs of liquid

    water (b) on the surface of present-day Mars, / (c) a finding that will fuel speculation that life, / (d) if it ever arisen there, could 'persist even now. / (e) No error

    92. (a) In a recent cabinet decision, the government / (b) ordered that files sent for reconsideration, / (c) if cleared by the ministers a second time, / (d) would be bound on all officials. (e) No error

    93. (a) Police are scanning call detail records / (b) of an advocate arrested from a mall / (c) on charge of filming on the sly from a spy camera / (d) tucked in the lace of his right shoe. / (e) No error

    94. (a) India wants greater investment from Germany / (b) and a positive investment climate / (c) and technology partnership are crucial for / (d) the success of 'Make in India' initiative. / (e) No error

    95. (a) Goswami was reportedly slapped and kicked before / (b) she and her family was taken to the police station / (c) where she was allegedly / (d) subjected to further assault. / (e) No error

    Directions (96-100): In the following passage, some of the words have been left out, each of which is indicated by a number. Find the suitable word from the options given

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    against each number and fill up the blanks with appropriate words to make the paragraph meaningfully complete. Lakshmana's principles in life are (96) on Rama. He declares that Rama is everything to him and that he does not look behind Him and beyond Him. He strives to obtain Rama's approbation and his goal is Rama's happiness. When Rama and Sita leave for the forest with Lakshmana, he allays the fears of the people who are concerned about their welfare. He assures them that he would look after the couple. Lakshmana exemplifies the practice of karma, jnana and bhakti by his exceptional (97) and service to the Supreme Being incarnate, pointed out Kidambi Sri Narayanan in a discourse. Rama is overwhelmed with gratitude and love for Lakshmana on seeing the lovely hermitage he had built for them at Panchavati. Everything about the hermitage speaks loud of Lakshmana's skill and resourcefulness. There is (98) room for the performance of daily rituals and worship, and a section of it is meant for meeting with the sages who might

    visit them. Lakshmana has also designed a very comely section for the (99) of Rama and Sita. In joy Rama embraces Lakshmana and says that He finds a father in Lakshmana. Does not his service to Rama far exceed the unselfish love of a father who cares for the well being of his child in anticipating and fulfilling its needs? Rama loudly (100) that as far as He is concerned, Dasaratha continues to live in Lakshmana and that He has no occasion to miss His father. 96. (a) based (b) concentrated (c) centred

    (d) targeted (e) converged 97. (a) devotion (b) allegiance (c) adoration

    (d) animosity (e) apathy 98. (a) small (b) great (c) short (d) no (e) ample 99. (a) publicity (b) isolation (c) privacy (d) aloofness (e) seclusion

    100. (a) defends (b) opposes (c) protests (d) acknowledges (e) refuses

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