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Q:

Which one of the following can be called as a part of the Service Sector

A) Textile Mills B) Banking
C) Coal mines D) Agriculture
 
Answer & Explanation Answer: B) Banking

Explanation:
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Filed Under: Indian Economy

Q:

Simran started a software business by investing Rs. 50,000. After six months, Nanda joined her with a capital of Rs. 80,000. After 3 years, they earned a profit of Rs. 24,500. What was Simran's share in the profit ?

A) 10110 B) 10500
C) 12000 D) 13000
 
Answer & Explanation Answer: B) 10500

Explanation:

Simran : Nanda = (50000 * 36) : (80000 * 30) = 3 : 4.

Simran's share = Rs. ( 24500 * 3/7)  =  Rs. 10500.

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Filed Under: Partnership

Q:

Which of the following is definitelyy a major indication of the state of the economy of the country

A) rate of GDP growth B) rate of inflation
C) number of banks in a country D) stock of food grains in a country
 
Answer & Explanation Answer: A) rate of GDP growth

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Filed Under: Indian Economy

Q:

National Income based on the 

A) total revenue of the state B) production of goods and services
C) net profit earned and expenditure made by the state D) the sum of all fractions of income
 
Answer & Explanation Answer: B) production of goods and services

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Filed Under: Indian Economy

Q:

Reena and Shaloo are partners in a business, Reena invests Rs, 35,000 for 8 months and Shaloo invests Rs. 42,000 for 10 months, out of a profit of  Rs. 31,570, Reena's share is :

A) 12628 B) 18245
C) 11235 D) 10253
 
Answer & Explanation Answer: A) 12628

Explanation:

Ratio of their shares = (35000 * 8) : (42000 * 10) = 2 : 3.

Reena's share Rs. 31570 * (2 / 5) = Rs. 12628.

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Filed Under: Partnership

Q:

Which one of the following is NOT amethod of measurement of National Income

A) Value added method B) Income method
C) Expenditure method D) Investment method
 
Answer & Explanation Answer: D) Investment method

Explanation:
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Filed Under: Indian Economy

Q:

A and B are partners in a business. A contributes 1/4 of the capital for 15 months and B received 2/3 of the profit. For how long B's money was used ?

A) 3 months B) 6 months
C) 10 months D) 12 months
 
Answer & Explanation Answer: C) 10 months

Explanation:

Let the total profit be Rs. z. Then,

B's share = Rs. 2z/3,  A's share = Rs. ( z - 2z/3 ) = Rs. z/3.

A : B = z/3 : 2z/3 = 1:2

Let the total capital be Rs, X and suppose B's money was used for x months. Then.

(1(x) / 4 * 15) / (3x) / 4 * y) = 1/2 <=> y = (15 * 2 / 3) = 10 .

 Thus, B's money was used for 10 months.

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Filed Under: Partnership

Q:

Which sector of Indian Economy has shown remarkable expansion during the last decade

A) Primary sector B) Secondary sector
C) Terrrtiary sector D) Mining sector
 
Answer & Explanation Answer: C) Terrrtiary sector

Explanation:
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Filed Under: Indian Economy