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1
PYP
IIFT 2012
Answer the questions on the basis of the following table. Which region witnessed the highest compound annual growth rate (CAGR) of tourists arriving into India?
2
PYP
IIFT 2012
Answer the questions on the basis of the following table. Tourists arriving into India from how many regions experienced CAGR of more than 10%?
3
PYP
IIFT 2012
Answer the questions on the basis of the following table. The highest annual growth rate recorded in tourists arriving from any region in any year is
4
PYP
IIFT 2012
Direction: Analyses the following chart showing the exports and imports of Sono Ltd. Approximately by what percentage are the total Exports greater / smaller than the total imports for the given period?
5
PYP
IIFT 2012
Direction: Analyses the following chart showing the exports and imports of Sono Ltd. If the absolute difference between imports and exports are ranked in ascending order, which year gets 4th rank?
6
PYP
IIFT 2012
Direction: Analyses the following chart showing the exports and imports of Sono Ltd. In which year was the fifth largest annual percentage increase in exports recorded?
7
PYP
IIFT 2012
Direction: Analyses the following chart showing the exports and imports of Sono Ltd. In which year saw the second largest annual percentage increase in imports?
8
PYP
IIFT 2012
Direction: Analyses the following chart showing the exports and imports of Sono Ltd. What is the approximate percentage point difference in the maximum annual percentage increase in export and the minimum annual percentage decrease in Imports?
9
PYP
IIFT 2012
Answer the questions on the basis of the table given below Table: Production of Major Minerals and Metals (Million Tonnes) In which year saw the second largest annual percentage increase in imports?
10
PYP
IIFT 2012
Answer the questions on the basis of the table given below Table: Production of Major Minerals and Metals (Million Tonnes) Which year has witnessed highest absolute increase in total production of minerals and metals?
11
PYP
IIFT 2012
Answer the questions on the basis of the table given below Table: Production of Major Minerals and Metals (Million Tonnes) Highest annual growth rate in production is recorded in
12
PYP
IIFT 2012
Answer the questions on the basis of the table given below Table: Production of Major Minerals and Metals (Million Tonnes) If annual average growth rate in production exhibited during 2006 to 2011 continues for next 4 years, then what will be the approximate production of aluminium in the year 2015?
13
PYP
IIFT 2012
Answer the questions on the basis of the table given below Table: Production of Major Minerals and Metals (Million Tonnes) In which year is the proportion of copper production in the total mineral and metal production the highest?
14
PYP
IIFT 2012
Answer the questions on the basis of the table given below Table: Production of Major Minerals and Metals (Million Tonnes) Which mineral/metal witnessed the minimum growth rate in production from 2006 to 2010?
15
PYP
IIFT 2012
read the information given below, analyse the following chart of Domestic sales and production of country and answer the questions : Following charts present data about the domestic sales and production of LCD, LED and Plasma TVs produced and sold in a country (in number of units). Differences in production and sales will be bridged through external trade (i.e. exports and imports) of the TV category during a given year. What year has registered the highest external trade in total number of TV units?
16
PYP
IIFT 2012
read the information given below, analyse the following chart of Domestic sales and production of country and answer the questions : Following charts present data about the domestic sales and production of LCD, LED and Plasma TVs produced and sold in a country (in number of units). Differences in production and sales will be bridged through external trade (i.e. exports and imports) of the TV category during a given year. What year has registered the highest external trade in total number of TV units?
17
PYP
IIFT 2012
read the information given below, analyse the following chart of Domestic sales and production of country and answer the questions : Following charts present data about the domestic sales and production of LCD, LED and Plasma TVs produced and sold in a country (in number of units). Differences in production and sales will be bridged through external trade (i.e. exports and imports) of the TV category during a given year. Examine the following statements I. LCD TVs were always exported II. Net exports of all the categories of TVs for all the years is 1275 III. In only one year the production of plasma TVs fell short of sales Select the best option
18
PYP
IIFT 2012
Study the following pie charts regarding to sales of 5 models of cars for the years 2010 and 2011 and answer the question If the 2010 sales for all car models is 80000 and these have grown by 25% in 2011, then what is the approximate increase in the number of Figo cars sold in 2011 over 2010?
19
PYP
IIFT 2012
Study the following pie charts regarding to sales of 5 models of cars for the years 2010 and 2011 and answer the question IF the 2010 sales for all car models Is 80000 and these have grown by 25% in 2011, then how many models have grown more than the average growhh rate for all the models taken together?
20
PYP
IIFT 2012
In the word HEIRARCHICAL, If the first and second, third and fourth, fourth and fifth, fifth and sixth letters are interchanged up to the last letter, which are the two position from the left on which R would appear and on which positions would C appear twice?
21
PYP
IIFT 2012
In the following series, what numbers should replace the question marks? - 1,0,1,0,2,4,1,6,9,2,12,16,???
22
PYP
IIFT 2012
Here are some words translated from an artificial language. Dionot means oak tree Blyonot means oak leaf Blycrin means maple leaf Which word could mean “maple syrup”
23
PYP
IIFT 2012
Statement 1: All chickens are birds. Statement 2: Some chickens arre hens. Statement 3: Female birds lay eggs. If the above statement are facts, then which of the following must also be a fact? A) All birds lay eggs. B) Hens are birds. C) Some chickens are not hens.
24
PYP
IIFT 2012
Statement 1: Pictures can tell a story. Statement 2: All storybooks have pictures. Statement 3: Some storybooks have words. If the above statement are facts, then which of the following must also be a fact? A) Pictures can tell a story better than words can. B) The stories in storybook are very simple. C) Some storybooks have both words and pictures.
25
PYP
IIFT 2012
If IQS : LNV, then JRM : ?
26
PYP
IIFT 2012
Some information is provided in the paragraph below. Answer the questions based on this information A Weekly television show routinely stars six actors, J, K, L, M, N and O. Since of the actors are good friends and some do not get along at all. In an effort to keep peace, the director sees to it that friends work together and enemies do not. Also, as the actors have become more popular, some of them need time off to do other projects. To keep the schedule working, the director has a few things she must be aware of: • J will only work on episodes on which M is working • N will not work with k under any circumstances. • M can only work every other week, in order to be free to film a movie. • At least three of the actors must appear in every weekly episode. In a show about L getting a job at the same company J already works for and k used to work for, all three actors will appear. Which of the following is true about the other actors who may appear?
27
PYP
IIFT 2012
Some information is provided in the paragraph below. Answer the questions based on this information A Weekly television show routinely stars six actors, J, K, L, M, N and O. Since of the actors are good friends and some do not get along at all. In an effort to keep peace, the director sees to it that friends work together and enemies do not. Also, as the actors have become more popular, some of them need time off to do other projects. To keep the schedule working, the director has a few things she must be aware of: • J will only work on episodes on which M is working • N will not work with k under any circumstances. • M can only work every other week, in order to be free to film a movie. • At least three of the actors must appear in every weekly episode. Next week, the show involves N’s new car and O’s new refrigerator. Which of the following is true about the actors who may appear?
28
PYP
IIFT 2012
Some information is provided in the paragraph below. Answer the questions based on this information. A number arrangement machine, when given a particular input, rearranges it using a particular rule, the following is the illustration and steps of the arrangement. What should be the fourth step of the following input? 64 326 187 87 118 432 219 348
29
PYP
IIFT 2012
Some information is provided in the paragraph below. Answer the questions based on this information. A number arrangement machine, when given a particular input, rearranges it using a particular rule, the following is the illustration and steps of the arrangement. How many steps will be required to get the final output from the following input? 319 318 746 123 15 320 78 426
30
PYP
IIFT 2012
P ≠ Q implies that Q is standing 2 kms to the right of P P*Q implies that Q is 2 kms to the left of P P @ Q implies that Q is 2 kms below P P $ Q implies that Q is standing 2 kms above P If F ≠ S $ B * V, in which direction is F with respect to V?
31
PYP
IIFT 2012
Immediately after leaving his house, Ratvik turned right and walked for 4 m. Then he turned left and walked for 20 mts. Then he again took a left turn and walked for 30 mts. There he met a friend and turned right to go to the coffee shop 20 mst away. After having coffee, he walked back straight for 40 mts in the direction he had come from. How far is he from his house?
32
PYP
IIFT 2012
Find the missing alphabet.
33
PYP
IIFT 2012
In a four-day period – Monday through Thursday - each of the following temporary office workers worked only one day, each a different day. Jai was scheduled to work on Monday, but he traded with Raj, who was originally scheduled to work on Wednesday. Farid traded with Kajal, who was originally scheduled to work on Wednesday. Farid traded with Kajal, who was originally scheduled to work on Thursday. Finally, Jai traded with Kajal. After all the switching was done, who worked on Tuesday?
34
PYP
IIFT 2012
If a clock is kept on the table in such a way that at 3:10 pm the hour hand points south, after how much time will the minute hand point east?
35
PYP
IIFT 2012
Gita is older than her cousin Mita. Mita’s brother Bhanu is older thana Gita. When Mita and Bhaunu are visiting Gita, all there like to play a game of Monopoly. Mita wins more often than Gita does. Which of the following can be concluded from the above?
36
PYP
IIFT 2012
Priya is taller than Tiya and shorter than Siya. Riya is shorter than Siya and taller than Priya. Riya is taller than Diya, who is shorter than Tiya. Arrange them in order of ascending heights.
37
PYP
IIFT 2012
Which four bits can be joined together to form two words that have opposite meanings? ERT, UCE, DES, END, EXP, EAR, AND, SIP, RED, GOS, 1 2 3 4 5 6 7 8 9 10
38
PYP
IIFT 2012
Some information is provided in the paragraph below. Answer the questions based on this information. Era is in charge of seating the speakers at a table. In addition to the moderator, there will be a pilot, a writer, an attorney, and an explorer. The speakers’ names are Gaj, Hema, Jaya, Kumar, and Lalit • The moderator must sit in the middle, in seat #3 • The attorney cannot sit next to the explorer • Lalit is the pilot • The writer and the attorney sit on either side of the moderator • Hema, who is not the moderator, sits between Kumar and Jaye. • The moderator does not sit next to Jaya or Lalit • Gaj, who is attorney, sits in seat #4. Who is moderator?
39
PYP
IIFT 2012
Some information is provided in the paragraph below. Answer the questions based on this information. Era is in charge of seating the speakers at a table. In addition to the moderator, there will be a pilot, a writer, an attorney, and an explorer. The speakers’ names are Gaj, Hema, Jaya, Kumar, and Lalit • The moderator must sit in the middle, in seat #3 • The attorney cannot sit next to the explorer • Lalit is the pilot • The writer and the attorney sit on either side of the moderator • Hema, who is not the moderator, sits between Kumar and Jaye. • The moderator does not sit next to Jaya or Lalit • Gaj, who is attorney, sits in seat #4. Where does Jaya Sit?
40
PYP
IIFT 2012
What was the picture shown on the first stamp of independent India?
41
PYP
IIFT 2012
Which treaty led to creation of the single European Currency ‘Euro”?
42
PYP
IIFT 2012
Bretton species?
43
PYP
IIFT 2012
Which of the following is NOT TRUE about the Millennium Development Goals (MDGs) of the United Nations (UN) A. There are 8 MDGs that 193 UN Members states have agreed to achieve B. The year set for achieving the MDGs is 2020 C. Ensuring environmental sustainability is not one of teh MDGs D. Eradication of extreme poverty and hunger is one of the prime MDGs
44
PYP
IIFT 2012
Match the Country in Column 1 with its capital city in Column 2 and its Currency in Column 3
45
PYP
IIFT 2012
Who is the Indian to be named as one of the six winners of the prestigious Magsaysay Award for 2012?
46
PYP
IIFT 2012
Match the name of the automobile company in Column 1 with the brand of cars owned by them in column 2
47
PYP
IIFT 2012
Who, among the following, has not been a Vice President of India before becoming the President of India?
48
PYP
IIFT 2012
GAAR has been in news recently. What does GAAR stands for
49
PYP
IIFT 2012
Match the description given in Column 1 with the name of film in Column 2
50
PYP
IIFT 2012
Match the position in Column 1 with the person who holds it (as on 31st August 2012) in Column 2:
51
PYP
IIFT 2012
Which among the following cities hosted the 4th BRICS Summit in 2012?
52
PYP
IIFT 2012
When it is 11:15 as per Greenwich Mean Time, what will be the time in Delhi
53
PYP
IIFT 2012
Mullaperiyar Dam is a matter of controversy between which of the following states?
54
PYP
IIFT 2012
Match the celebration day in Column 1 with the date in Column 2
55
PYP
IIFT 2012
Which country has won the Gold Medal for Men’s Football in 2012 Olympic Games?
56
PYP
IIFT 2012
What is the name given to the civil reformist movement for eradication of ragging in India?
57
PYP
IIFT 2012
Which of the following teams have been in at least one of the ten final matches of ICC Cricket World Cup played from 1975 through 2011, but have never been a winner
58
PYP
IIFT 2012
In a painting what is the vanishing point?
59
PYP
IIFT 2012
Match the Leader’s name in Column 1 to the Party headed by them I Column 2:
60
PYP
IIFT 2012
According to Greek Mythology, what is the name of the beautiful youth who was loved by Echo; and I punishment for not returning her love, was made to fall in love with his image reflected in a pool; and finally unable to possess the image, is believed to have pined away and turned into a flower?
61
PYP
IIFT 2012
Of which of the following trade groupings is Myanmar a member
62
PYP
IIFT 2012
Arrange the following Indian rivers from North to South 1) Narmada 2) Kaveri 3) Jhelum 4) Godavari
63
PYP
IIFT 2012
Which of the following venues has hosted the Summer Olympics Games the maximum number of times?
64
PYP
IIFT 2012
Match the Memoir/ Autobiography in Column 1 with the person on whom it is based in Column 2:
65
PYP
IIFT 2012
Which year is known as the year of the great divided in the demographic history
66
PYP
IIFT 2012
What is a good estimate for the length of the coastline of the mainland India?
67
PYP
IIFT 2012
The ‘God Particle’ is the name given to
68
PYP
IIFT 2012
Direction: Select the option which has a similar analogy vis-a-vis the given analogy. INDEFATIGABLE: INVETERATE::
69
PYP
IIFT 2012
Direction: Select the option which has a similar analogy vis-a-vis the given analogy. MISANTHROPE: HUMANITY ::
70
PYP
IIFT 2012
Choose the option which gives the correct meaning in the same order as the words.
71
PYP
IIFT 2012
72
PYP
IIFT 2012
Which of the following is a metaphor?
73
PYP
IIFT 2012
Which of the following is an oxymoron?
74
PYP
IIFT 2012
Pick the correct antonym for the word given PUERILE
75
PYP
IIFT 2012
PROSAIC
76
PYP
IIFT 2012
Pick the word with the correct spelling
77
PYP
IIFT 2012
Pick the odd word out
78
PYP
IIFT 2012
Pick the odd word out
79
PYP
IIFT 2012
In each question, a sentence is written in four different ways. Pay attention to grammar, word choice and sentence construction. Choose the option which gives the most effective and grammatically correct sentence.
80
PYP
IIFT 2012
In each question, a sentence is written in four different ways. Pay attention to grammar, word choice and sentence construction. Choose the option which gives the most effective and grammatically correct sentence.
81
PYP
IIFT 2012
Direction: Out of the five statements given below, only one is grammatically correct. Choose the correct statement as your answer.
82
PYP
IIFT 2012
Directions: Given below are five statements out of which only one is grammatically correct. Identify the correct statement.
83
PYP
IIFT 2012
Pick the word with the correct spelling
84
PYP
IIFT 2012
Direction: Choose the most appropriate option for filling in the blanks. The sequence of words in the correct option should match the sequence of the sentences in which they should be used. i. There is so much love ……… the two of them. ii. I have not seen Aditi ………… Friday. iii. I started my exam preparation ………… January. iv. The three sisters did not look for new friend as they were quite happy playing ……… themselves. v. I have not seen Mohan ……… six months.
85
PYP
IIFT 2012
Direction: Choose the most appropriate option for filling in the blanks. The sequence of words in the correct option should match the sequence of the sentences in which they should be used. i. He succeeded ……………… perseverance and sheer hard work. ii. ……………….. the power vested in me, I hereby declare these premises sealed. iii. ………… his illness he could not finish his work in time. iv. ……………….need, please contact me at the emergency number indicated.
86
PYP
IIFT 2012
Direction: In the following question, a set of labelled sentences is given. Out of the given alternatives, select the most logical order of the sentences to form a coherent paragraph. I. Have you ever gone through a book that was so good you kept hugging yourself mentally as you read?II. Now, notice the examples I have usedIII. Have you ever seen a play or motion picture that was so charming that you felt sheer delight as you watched?IV. I have not spoken of books that grip you emotionally, of plays and movies that keep you on the edge of your seat in surprise, or of food that satisfies a ravenous hunger.V. Or perhaps you have had a portion of pumpkin pie, light and airy and mildly flavoured, and with a flaky, delicious crust, that was the last word in gustatory enjoyment?
87
PYP
IIFT 2012
Direction: In the following question, a set of labelled sentences is given. Out of the given alternatives, select the most logical order of the sentences to form a coherent paragraph. I. All these help hasten download and optimize the farmer’s usage of the internet within the available bandwidth. II. ITC has learnt invaluable lessons from finding creative local solutions on the ground, to some of these apparently intractable problems.III. Solutions include the use of RNS kits in the telephone exchanges or, setting up VSAT to tide over connectivity problems, and using solar power as the back-up source of electricity.IV. It has also adopted special imaging techniques.V. It has applied the template approach to manage content.
88
PYP
IIFT 2012
Passage 2 The first thing I learned at school was that some people are idiots; the second thing I learned was that some are even worse. I was still too young to grasp that people of breeding were meant to affect innocence of this fundamental distinction and that the same courtesy applied to and disparity that might rise out of religious, racial, sexual class, financial and (latterly) cultural difference. So in may innocence I would raise my hand every time the teacher asked a question, just to make it clear I knew the answer. Resembled. The boy with pointed nose was a fox and the big one next to hi was, as everyone said, a bear, and the one with the thick hair was a hedgehog. I remember a Jewish girl called Marai telling us all about Passover – there were days when no one in her grandmother’s house was allowed to touch the light switchers. Another girl reported that one evening, when she was in her room, she turned around so rest she glimpsed the shadow of an angel – a fearsome story that stayed with me. There was girl with very long legs who wore very long socks and always looked as if she was about to cry; he father was a government minister and when he died in a plane crash from which Prime Minister Menderes emerged without a scratch, I was sure she’d been crying because she had known in advance what was going to happen. Lots of children had problems with their teeth; a few wore braces. On the top floor of the building that housed the lice dormitory and the sports hall, just next to the infirmary, there was rumoured to be a dentist, and when teachers got angry they would often threaten to send naughty children there. For lesser infractions pupils were made to stand in the corner between the blackboard and the door with their backs to the class, sometimes one leg, but because we were all so curious to see how long someone could stand on one leg, the lessons suffered, so this particular punishment was rare. The synonym for the term ‘vapid’ is
89
PYP
IIFT 2012
Who is the least talked about character in this passage?
90
PYP
IIFT 2012
Which among the following cannot be concluded from this passage?
91
PYP
IIFT 2012
What did the teachers do when they get angrey?
92
PYP
IIFT 2012
Passage 3 Not many people saw it coming. It had seemed that the time for kaun Banega Crorepati had come and gone. This column argued as much a few years ago, when Shah Rukh Khan took over the reigns of the show. He did well enough, but it still seemed that the time for the genteel game of knowledge had passed. There was too much blood in reality television, and KBC simply did not have enough platelets for it. It had no backbiting intrigue, it lacked a cast of almost-losers and missed the low-life loquaciousness of other reality shows, and nothing ever needed to be beeped out on it, a sure touch that it was out of touch with the times. And yet, not only is KBC back, but it is back in a very real sense not just as a TV show that gets good ratings, but as an idea that connects with something deep and real in our lives. What makes this particularly interesting is that not very much has changed in the show its focus has shifted to smaller towns and an ‘aadmi’ more ‘aam’, and the prize money has gone up over the years, but these are minor adjustments, not major departures. The format is pretty much the same and the return of Amitabh bachchan restores to the sjhow both the gravitas and the empathy that has been its hallmark. Perhaps KBC works because it reconciles many competing ideas for us. For a show that bestows undreamt of wealth on people who win. And does so with reasonable regularity, KBC manages somehow to rise above the money it throws around. By locating money squarely in the context of small dreams, family and community, KBC shows us a face of money that is ennobling. The money of KBC is treated not as a jackpot but as a ‘verdant’, a gift from divinity that comes for one’s persistent effort, a prize for the penance called ordinary life. The images that surround the winners are not big cars and fancy brands. But houses made ‘puck’ and IAs dreams pursued. The winner have been remarkable ambassadors for the show, focusing not what the money buys them but what it enables them to work at in the future. Money speaks in the language of responsibility, not indulgence and steeps a larger collective in its pleasing warmth. The format of the show ensure that we see people as they are, rather than the usual sight of raw innocents losing their transparent naiveté in a haze of hair dye favour and what they tell us is that success must put distance between destination and source. Between who wearer and what we must become. On it is the innocence that is spoken to and as an audience it is this quart we respond to. When a sushi] kumar descnbes hfe and attributes his success to his_wife who in turn is quick to shyly shrug off the credit, we see, for once something that smacks f the real on a reality show. As the reality show evolved, it found reality too boring and vapid. It was so much for fun to manufacture it by making people act in unpleasant ways and say unsavoury things to each other. Now, no reality show can really bring us reality; any act of representation and framing creates its own version of reality in man different ways I by aesthetic zing it. Emotionalising moments, dramatising revelations, withholding information selectively, or by imbuing some moments with significance, while ignoring others and even KBC uses these techniques. The difference is that it uses these to drive us towards the central premise of the show rather than see hose as individual ‘masala’ elements. In a world where television is raked by anxiety about itself, and where every new season is an exercise in renewed desperation, KBC stands apart by continuing to tell a human story about dreams and their fulfilment and doing so without trying too hard. There is no question that KBC rest on the persona of Amitah Bachchan for he reconciles for us the idea of fame and humility, of achievement and empathy in the way he treats the participants. He has a special ability to look into the ordinary and find something special and the humility to be awed by it. He is simultaneously. The Amitabh bachchan , the wax God who we touch and squeal when we find out that it is real and a fellow sympathizer and co-traveller on the journey called life. As a carrier of life-altering destiny, he underplays his role to perfection, acknowledging the enormity of that winning means for the participant while revealing the wisdom that knows that it is only money. Under his steerage money is no longer cold acquisitive urgency but warm with unfolding possibility. KBC shows us, close-up and in slow motion, the act of a miracle colliding with a dream. In doing so, it tells us that money can change things for the better, when it finds the right home. By applying good fortune to good intention, It keeps the miracle alive, well after the movement of impact. As the winners no doubt find out, one can never have enough money, and that relative scale makes everyone a relative pauper. In the final analysis, Kaun Banega Crorepati reveals both the nobility and the eventual poverty of money, no matter if it comes in eight figures. According to the author’s opinion a few years before writing this article, which of the following appeared to be in store for KBC? I. The show’s time was over II. The show was too refined to compete with other reality shows III. Shah Rukh khan as the show host would take it to new heights IV. The show’s viciousness was leading it, to its end
93
PYP
IIFT 2012
Unlike most reality shows, KBC has gained viewership on television by
94
PYP
IIFT 2012
According to the author, KBC presents the prize money as
95
PYP
IIFT 2012
In what context does the author use the phrase “a relative pauper”?
96
PYP
IIFT 2012
Passage 1 Asked what a business is, the typical businessman is likely to answer, “An organisation to make a profit.” The typical economist is likely to give the same answer. This answer is not only false, it is irrelevant. The prevailing economic theory of the mission of business enterprise and behaviour, the maximization of profit which is simply a complicated way of phrasing the old saw of buying cheap and selling dear – may adequately explain how Sears, Roebuck or any other business enterprise operates, or how it should operate. The concept of profit maximization is In fact, meaningless. The danger in the concept of profit maximization is that it makes profitability appear a myth. Profit and profitability are, however, crucial for society even more than for the individual business. Yet profitability is not the purpose of, but a limiting factor on business behaviour and business decisions, but rather the test of their validity. If archangels instead of businessmen sat in directors’ chairs, they would still have to be concerned with profitability, despite their total lack of personal interest in making profits. The root of the confusion is the mistaken belief that the motive of a person – the so called profit motive of the businessman is an explanation of his behaviour or his guide to right action. Whether there is such a thing as a profit motive at all is highly doubtful. The idea was invented by the classical economists to explain the economic reality that their theory of static equilibrium could not explain. There has never been any evidence for the existence of the profit motive, and we have e ‘ long since found the true explanation of the phenomena of economic change and fig growth which the profit motive was first put to forth to explain. It is irrelevant for an understanding of business behaviour, profit, and profitability, whether there is a profit motive or not. That Jim smith is in business to make a profit concerns only him and the Recording Angel. It does not tell us what Jim 5 Smith does and how he performs. We do not learn anything about the work of a prospector hunting for uranium in the Nevada desert b being told that he is trying to make his fortune. We do not learn anything about the work of a heart specialist by being told that he is trying to make a livelihood, or even that he is trying to benefit humanity. The profit motive and its offspring maximisation of profits are just as irrelevant to the function of a business, the purpose of a business, and the job of managing a business. In fact, the concept is worse than irrelevant: it does harm. It is a major cause of the misunderstanding of the nature of profit, which are among the most dangerous diseases of an industrial society. It is largely responsible for the worst mistakes of public policy – in this country as well as in Western Europe – which are squarely based on the failure to understand the nature, function, and purpose of business enterprise. And it is in large part responsible for the prevailing belief that there is an inherent contradiction between profit and a company’s ability to make a social contribution. Actually a company can make a social contribution only if it is highly profitable. To know what a business is, we have to start with its purpose. Its purpose must lie outside of the business itself. In fact, it must lie in society since business enterprise is an organ of society. There is only one valid definition of business purpose: to create a customer. Markets are not created by God, nature, or economic forces but by business people. The want a business satisfies may have been felt by the customer before he or she was offered the means of satisfying it. Like food in a famine, it may have dominated the customer’s life and filled all his waking moments, but it remained a potential want until the action of business people converted it into effective demand. Only then it there a customer and a market. The want may have been unfelt by the potential customer; no one knew that he wanted a Xerox machine or a computer until these became available. There may have been no want at all until business by action created it – by innovation, by credit. By advertising, or by salesmanship. In every case,, it is business action that creates the customer. The author of this passage is of the opinion that profits and profitability are:
97
PYP
IIFT 2012
This passage highlights that the theory of profit maximisation and profit motive
98
PYP
IIFT 2012
As stated in this passage, the purpose of a business is to
99
PYP
IIFT 2012
According to the author of this passage, what comes first?
100
PYP
IIFT 2012
Passage 4 Babur’s head was throbbing with the persistent ache that dogged him during the monsoon. The warm rain had been falling for three days now but the still. Heavy air held no promise of relief. The rains would go on for weeks, even months. Lying back against silken bolsters in his bedchamber in the Agra fort, he tried to imagine the chill, thin rains of Ferghana blowing in over the jagged summit of Mount Beshtor and failed. The punkah above his head hardly disturbed the air. It was hard even to remember what it was like not to feel hot. There was little pleasure just now even in visiting his garden the sodden flowers, soggy ground and overflowing water channels only depressed him. Babur got up and tried to concentrate on writing and entry in his diary but the words wouldn’t come and he pushed his jewel-studded inkwell impatiently aside. Maybe he would go to hte women’s apartments. He would ask Maham to sing. Sometimes she accompanied herself on the round-bellied, slender-necked lute that had once belonged to Esan Dawlat. Maham lacked her grandmother’s but the lute still made a sweet sound in her hands. Or he might play a game of chess with Humayun. His son had a shrewd, subtle mind – but so, he prided himself, did he and hwe could usually beat him. It amused him to see Humayun’s startled look as he claimed victory with the traditional cry shah mat- ‘check-mate’, ‘the king is at a loss’. Later, they would discuss Babur’s plans to launch a campaign when the rains eased against the rulers of Bengal. In their steamy jungles in the Ganges delta, they thought they could defy Moghul authority and deny Babur’s over lordship. ‘Send for my son Humayun and fetch my chessmen,’ Babur ordered a servant. Trying to shake off his lethargy he got up and went to a casement projecting over the riverbank to watch the swollen, muddy waters of the Jumna rushing by. A farmer was leading his bony bullocks along the oozing bank. Hearing footsteps babur turned, expecting to see his son, but it was only the whit-tunicked servant. ‘Majesty, your son begs your forgiveness but he is unwell and cannot leave his chamer.’ What is the matter with him?’ ‘I do not know, Majesty.’ Humayun was never ill. Perhaps he, too, was suffering from the torpor that came with the monsoon, sapping the energy and spirit of even the most vigorous. ‘I will go to him.’ Babur wrapped a yellow silk robe around himself anda thrust his feet into pointed kidskin slippers. Then he hurried from his apartments to Humayun’s on the opposite side of a galleried courtyard, where water was not shooting as it should, in sparkling arcs from the lotus-shadep marble basins of the fountains but pouring over the inundated rims. Humayun was lying on his bed, arms thrown back, eyes closed, forehead beaded with sweat, shivering. When he heard his father’s voice he opened his eyes but they were boldshot, the pupils dilated. Babur could hear his heavy wheezing breathing. Every scratchy intake of air seemed an effort which hurt him. ‘When did this illness begin?’ ‘Early this morning, Father.’ ‘Why wasn’t I told?’ Babur looked angrily at his son’s attendants. ‘Send for my hakim immediately!’ Then he dipped his own silk handkerchief into some water and wiped Humayun’s brow. The sweat returned at once – in fat, it was almost running down his face and he seemed to be shivering even more violently now and his teeth had begun to chatter. ‘Majesty, the hakim is here.’ Abul-Malik went immediately to Humayun’s beside, laid a hand on his forehead, pulled back his eyelids and felt his pulse. Then, with increasing concern, he pulled open Humayun’s robe and , bending, turned his neatly turbaned head to listen to Humayun’s heart. ‘What is wrong with him?’ Abdul-Malik paused. ‘It is hard to say, Majesty. I need to examine him further.’ Whatever you require you only have to say...’ ‘I will send for my assistants. If I may be frank, it would be best if you were to leave the chamber, Majesty. I will report to you shen I have examined the prince thoroughly – but it looks serious, perhaps ever grave. His pulse and heartbeat are weak and rapid.’ Without waiting for Babur’s reply, Abdul-Malik turned back to his patient. Babur hesitated and, after a glance at his son’s waxen trembling face, the room. As attendants closed the doors behind him he found that he, too, was trembling. A chill closed round his heart. So many times he had feared for Humayun. At panipat he could have fallen beneath the feet one of Sultan Ibrahim’s war elephants. At Khanua he might have been felled by the slash off a Rajput sword. But he had never thought that Humayun – so healthy and strong – might succumb to sickness. How could he face life without his beloved eldest son? Hindustan and all its riches would be worthless if Humayun died. He would never have come to this sweltering, festering land with its endless hot rains and whining, bloodsucking mosquitoes if he had known this would be the price. Babur was feeling depressed because....
101
PYP
IIFT 2012
Which among the following things did Babur not consider doing to relieve himself of depression?
102
PYP
IIFT 2012
What was it that Babur currently feared for Humayun?
103
PYP
IIFT 2012
According to this passage, which of the following has not been used to describe Humayun?
104
PYP
IIFT 2012
The equation + = 170 has
105
PYP
IIFT 2012
In 2011, Plasma – a pharmaceutical company – allocated Rs. 4.5 * for Research and Development. In 2012, the company allocated Rs. 60000000 for Research and Development. If each year the funds are evenly divided among 2 * departments, how much more will each department receive this year than it did last year?
106
PYP
IIFT 2012
Ashish is studying late into the night and is hungry. He opens his mother’s snack cupboard without switching on the lights, knowing that his mother has kept 10 packets of chips and biscuits in the cupboard. He pulls out 3 packets from the cupboard, and all of them turn out to be chips. What is the probability that the snack cupboard contains 1 packet of biscuits and 9 packets of chips?
107
PYP
IIFT 2012
The annual production in cement industry is subject to business cycles. The production increases for two consecutive years consistently by 18% and decreases by 12% in the third year. Again in the next two years, it increases by 18% each year and decreases by 12% in third year. Talking 2008 as the base year, what will be the approximate effect on cement production in 2012?
108
PYP
IIFT 2012
The answer sheets of 5 engineering students can be checked be1 packet of biscuits and 9 packets by any one of 9 professors. What is the probability that all the 5 answer sheets are checked by exactly 2 professors?
109
PYP
IIFT 2012
The probability that in a household LPG will last 60 days or more is 0.8 and that it will last at most 90 days is 0.6. The probability that the LPG will last 60 to 90 days is
110
PYP
IIFT 2012
In a circular field, there is a rectangular tank of length 130 m and breadth 110 m. If the area of the land portion of the field is 20350 m2then the radius of the field is
111
PYP
IIFT 2012
A hemispherical bowl is filled with hot water to the brim. The contents of the bowl are transferred into a cylindrical vessel whose radius is 50% more than its height. If diameter of the bowl is the same as that of the vessel, the volume of the hot water in the cylindrical vessel is
112
PYP
IIFT 2012
There are two buildings, one on each bank of a river, opposite to each other. From the top of one building – 60 m high, the angles of depression of the top and the foot of the other building are 30oand 60o respectively. What is the height of the other building?
113
PYP
IIFT 2012
It takes 15 seconds for a train travelling at 60 km/hour to cross entirely another train half its length and travelling in opposite direction at 48 km/hour. It also passes a bridge in 51 seconds. The length of the bridge is
114
PYP
IIFT 2012
At a reputed Engineering College in India, total expenses of a trimester are partly fixed and partly varying linearly with the number of students. The average expense per student is Rs.400 when there are 20 students and Rs.300 when there are 40 students. When there are 80 students, what is the average expense per student?
115
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IIFT 2012
The value of is
116
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IIFT 2012
The unit digit in the product of * is
117
PYP
IIFT 2012
The perimeter of a right-angled triangle measures 234 m and the hypotenuse measures 97 m. Then the other two sides of the triangle are measured as
118
PYP
IIFT 2012
A sum of Rs.1400 is divided amongst A, B, C and D such that A’s share : B’s share = B’s share : C’s share = C’s share : D’s share =3/4 How much is C’s share?
119
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IIFT 2012
If k is an integer and 0.0010101 * 10 power k is greater than 1000, what is the least possible value of k?
120
PYP
IIFT 2012
If log 3, log( - 2) and log (+ 4) are in arithmetic progression, then x is equal to
121
PYP
IIFT 2012
A student is required to answer 6 out of 10 questions in an examination. The questions are divided into two groups, each containing 5 questions. She is not allowed to attempt more than 4 questions from each group. The number of different ways in which the student can choose the 6 questions is
122
PYP
IIFT 2012
Mr. Mishra invested Rs.25000 in two fixed deposits X and Y offering compound interest @ 6% per annum and 8% per annum respectively. If the total amount of interest accured in two years through both fixed deposits is Rs.3518, the amount invested in Scheme X is
123
PYP
IIFT 2012
Rohit bought 20 soaps and 12 toothpastes. He marked-up the soaps by 15% on the cost price of each, and the toothpastes by Rs. 20 on the cost price each. He sold 75% of the soaps and 8 toothpastes and made a profit of Rs.385. If the cost of a toothpaste is 60% the cost of a soap and he got no return on unsold ites, what was his overall profit or loss?
124
PYP
IIFT 2012
Eight points lie on the circumference of a circle. The difference between the number of triangles and the number of triangles and the number of quadrilaterals that can be formed by connecting these points is
125
PYP
IIFT 2012
12 men can complete a work in ten days. 20 women can complete the same work in 12 days. 8 men and 4 women started working and after nine days 10 more women joined them. How many days will they now take to complete the remaining work?
126
PYP
IIFT 2012
The Howrah-Puri express can move at 45 km/hour without rake, and the speed is diminished by a constant that varies as the square root of the number of wagons attached. If it is known that with 9 wagons, the speed is 30 km/ hour, what is the greatest number f wagons with which the train can just move?
127
PYP
IIFT 2012
Z is the product of first 31 natural numbers. If X = Z + 1, then the numbers of primes among X + 1, X + 2, …, X + 29, X + 30 is
128
PYP
IIFT 2012
A 10 litre cylinder contains a mixture of water and sugar, the volume of sugar being 15% of total volume. A few litres of the mixture is released and an equal amount of water is added. Then the same amount of the mixture as before is released and replaced with water for a second time. As a result, the sugar content becomes 10% of total volume. What is the approximate quantity of mixture released each time?
