Banking Quantitative Aptitude Sample Paper Quantitative Aptitude Sample Paper-8

  • question_answer
    Directions: These questions consist of a question and two statements I and II given below them. You have to decide whether the data provided in the statements are sufficient to answer the question. Read both the statements and choose the appropriate option.                                                                                                  [LIC (AAO) 2014]
    After how many months (from the start of business) did C join the business?
    I. A and B are started the business together by investing in the respective ratio of 7: 6. After few months, from the start of the business, C joined them. The respective ratio of investment of B and C was 12: 11.
    II. The annual profit earned by A, B and C from the business was Rs. 45000. The sum of A's share of annual profit and B's share of annual profit was Rs. 35100.

    A) If the data in statement I alone are sufficient to answer the question, while the data in statement II alone are not sufficient to answer the question.

    B) If the data in statement II alone are sufficient to answer the question, while the data in statement I alone are not sufficient to answer the question.

    C) If the data either in statement I alone or in statement II alone are sufficient to answer the question.

    D) If the data in both statements I and II together are not sufficient to answer the question.

    E) If the data in both the statements I and II together are necessary to answer the question.

    Correct Answer: E

    Solution :

    According to statement I,
    Ratio of investment of A: B = 7: 6
    and ratio of investment of B: C = 12 : 11
    \[\therefore \] Ratio of investment of A: B: C = 14: 12: 11
    Let C invests for x months.
    Then, \[\begin{matrix}    A & {} & B & {} & C  \\    14\times 12 & : & 12\times 12 & : & 11\times x  \\ \end{matrix}\]
    According to statement II,
    Share of \[(A+B)\] in total profit = Rs. 35100
    According to the question,
    \[\frac{11\times x}{26\times 12}=\frac{9900}{35100}\]
     \[\Rightarrow \]         x = 8 months
    Both statements are necessary


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