CAT-Numerical Ability-3

CAT – Numerical Ability – 3

1. A metallic sheet is of rectangular shape with dimensions 48 m x 36 m. From each of its corners, a square is cut off so as to make an open box. If the length of the square is 8 m, the volume of the box (in m^3) is:
a) 4830                  b) 5120                 c)6420                   d)8960

Ans: (b)

The side of the rectangular sheet is 48 m and 36 m. A square of 8 m is cut from all the corners of this sheet. Thus 8 m + 8 m = 16 m is reduced from all the side. The new side will be of dimension 32 m and 20 m. This is folded in to an open box the height of which is 8 m.

Hence the volume of the box is -> 32 x 20 x 8 = 5120 m^3

2. A group of students decided to collect as many paise from each member of group equalling to the number of members in the group.  If the total collection amounts to Rs. 59.29, then the number of members in the group is:
a) 57                      b) 67                      c) 77                       d) 87
Ans: (c)
The total amount collected is Rs 59.29 or 5929 paise. Since the number of members in the group and the number of paise are equal, the number of members is equal to √5929 -> 77.

3. Excluding stoppages, the speed of a bus is 54 kmph and including stoppages, it is 45 kmph. For how many minutes does the bus stop per hour?
a) 9                         b) 10                      c) 12                       d) 20
Ans: (b)

In one hour the bus runs 9 km less due to stoppages. The time taken for these stoppages is

(9/54) x 60 -> 10 minutes.  

4. A farmer travelled a distance of 61 km in 9 hours. He travelled partly on foot @ 4 km/hr and partly on bicycle @ 9 km/hr. The distance travelled on foot is:
a) 14 km               b) 15 km               c)16 km                                d) 17km
Ans: (c)
Let the distance travelled by foot be ‘X’. Then the distance travelled by cycle is (61 – X). Now we have an equation X/4 + (61-X)/ 9 = 9 solving we get the value of ‘X’ as 16 km.

5. The sum of the digits of a two-digit number is 15 and the difference between the digits is 3. What is the two-digit number?
a) 69                      b) 78                      c) 96                       d) Cannot be determined
Ans: (d)

The question would appear easy and the natural tendency would be to mark (c) as the answer. But, the two digit number could be either 96 or 69. Hence the answer is cannot be determined.

6. A grocer has a sale of Rs. 6435, Rs. 6927, Rs. 6855, Rs. 7230 and Rs. 6562 for 5 consecutive months. How much sale must he have in the sixth month so that he gets an average sale of Rs. 6500?
a) Rs. 4991.         B) Rs. 5991          c) Rs. 6001           d) Rs. 6991
Ans: (a)

Total sale for 5 months = Rs. (6435 + 6927 + 6855 + 7230 + 6562) = Rs. 34009.
For average sale of Rs. 6500 for six months the total sales for six months should be 6500 x 6 = Rs 39000. Hence the sixth month sale should be 39000 – 34009 = Rs. 4991.

7. The least multiple of 7, which leaves a remainder of 4, when divided by 6, 9, 15 and 18 is :

a) 74                      b) 94                      c) 184                    d) 364
Ans: (d)
The L.C.M. of 6, 9, 15, and 18 is 90.

The least number which is a multiple of 7 leaving a reminder of 4 be (90x + 4) By trial we can arrive the least value for ‘x’ as 4. Hence the least number is (90x4) + 4 = 364.  

8. The price of commodity X increases by 40 paise every year, while the price of commodity Y increases by 15 paise every year. If in 2001, the price of commodity X was Rs. 4.20 and that of Y was Rs. 6.30, in which year commodity X will cost 40 paise more than the commodity Y ?
a) 2010                  b) 2011                 c) 2012                  d) 2013
Ans: (b)

Let us assume that commodity X will be 0.40 paise more than commodity Y after ‘Z’ years.

Then we have an equation -> (4.20 + 0.40Z) – (6.30 + 0.15Z) = 0.40 paise.

Solving we get the value of ‘Z’ as 10 years. Hence, 10 years after 2001 ie 2011 the price of commodity ‘X’ will be 0.40 paise more than the price f the commodity ‘Y’.

  
9. Let N be the greatest number that will divide 1305, 4665 and 6905, leaving the same remainder in each case. Then sum of the digits in N is:
a) 4                         b) 5                        c) 6                         d) 8
Ans: (a)

Let ‘N’ be the HCF of 1305, 4665, and 6905. Then,

HCF of (4665 – 1305), (6905 – 4665), and (6905 – 1305) -> (3360), (2240) and (5600) is 1120

Thus N = 1120 and the sum of the digits 1 + 1 + 2 + 0 = 4
 
10. Sum of five consecutive even numbers is 380. What is the second number in ascending order?
a) 76                      b) 78                      c) 74                       d) 72
Ans: (c)
The sum of the five consecutive even numbers is 360. The average is 360/5 = 76 which is the middle number and three in the ascending order. Hence, the second number is -> 76 – 2 = 74.

 

Principle Accounting Concepts

An interesting article for the benefit of Management Students

Guide to Principle Accounting Concepts

By: Jeffrey Glen, dated October 30th, 2013

Accounting can seem overwhelming at times with all the terminology, concepts, and rules that make it a full time job to understand.  This quick guide will highlight some of the main principles of accounting, and help you understand things a bit better the next time your accountant calls.

Types of Financial Statement Accounts & Statements

There are 5 types of accounts in the financial statements:

·         Assets: Items of value to a company and which it controls

·         Liabilities: Amounts owed by the company to third parties

·         Equity: Amounts contributed to the firm by owners, or accumulated as retained earnings in the company

·         Income: Amounts earned by the company for whatever goods or services it sells

·         Expenses: Amounts paid out or assets used by the entity in the process of earning income

The balance sheet of a company is a snap shot of the value of the company’s assets, liabilities, and equity at a given point in time.  Balance sheets are typically seen monthly, quarterly, and annually.  Total assets will always equal total liabilities plus total equity.  This recognizes that all the value in the company is either owed to debtors (a liability) or is owed to the ownership.

The income statement is a summary of the financial activity of a company for a given period of time, again typically monthly, quarterly, and annually.  All of the income and expenses of the company over that period of time would be indicated here.  The final amount (either a net income or net deficit) would be added to the retained earnings of the company and be shown as a reduction or increase in the owner’s equity.

The Statement of Cash Flows is another account that summarizes the cash impact of all the items from the two statements above to reconcile your cash balance at the beginning of a period to the end of the period.  This is often required as there are many non-cash items in the financial statements (see the Accounting Methods article).

Debit = Credit

Double entry accounting is a principle of modern accounting practices and has been used since the 15^th century as a way of clearly tracking the impact of various transactions and recognizing that no transaction a business takes is one sided from an accounting perspective.  For every debit, there will be a credit, and vice versa.  This is referred to as double entry accounting.

In terms of the account types listed above debits and credits impact those types of accounts differently, see the table below.

Account Type	Debit	Credit
Asset	Debits increase this account	Credits decrease this account
Liability	Debits decrease this account	Credits increase this account
Equity	Debits decrease this account	Credits increase this account
Income	Debits decrease this account	Credits increase this account
Expense	Debits increase this account	Credits decrease this account

So a journal entry to book a cash sale would be:

Debit Cash (Asset Account)                                 $1,000

Credit Sales (Income Account)                                                                          $1,000

As a result of the journal entry posted above you are increasing your cash balance and you are increasing your sales. Journal entries refer to the adjustments made to the company’s financials, in the format seen above, to record financial transactions.

Why is Double Entry Accounting Important?

As seen above in the sales transaction no financial transaction will only impact one aspect of the financial statements. A sale either generates cash or an asset representing that a third party owes you money (an account receivable). Purchasing office supplies (an expense) either means you paid out cash (reduced an asset) or you recognized the need to pay someone later (a liability).  By using double entry accounting you are sure that the full financial impact of a transaction is being recorded.  This also acts as a form of quality check in that by requiring yourself to post both sides of the transaction at the same time you prevent errors from occurring (for example you recognize the expense one day and forget to put the amount owed to another party the following week).

Accounting Systems

Most company’s use some form of accounting system to record all of their financial transactions (i.e.Quick books or Simply Accounting) as they allow you to store all of the information related to your financial operations and have many reporting structures for one to see things like the income statement of balance sheet. Additionally, they have controls in place whereby a concept like double entry accounting is required (you can’t just debit an account without crediting another).

That said, double entry accounting can be used on a piece of paper also.  500 years ago they didn’t have Quick books to help figure out their net worth.

P & S Bank - Aptitude

P & S Bank - Aptitude

1.       A car covers the first 39 km. of its journey in 45 minutes and covers the remaining 25 km. in 35 minutes. What is the average speed of the car?

(a) 40kmph    (b) 64kmph         (c) 49kmph         (d) 48kmph         (e) None of these

Ans: (d)  Total distance covered in 80 minutes -> 39 + 25 -> 84 km. Hence the speed is 48 kmph.

2.       Four examiners can examine a certain number of answer papers in 10 days by working for 5 hours a day. For how many hours in a day would 2 examiners have to work in order to examine twice the number of answer papers in 20 days?

Ans: 10 hours. 4 Examiners value X papers in 10 days working 5 hours per day. Then to value 2X papers by 2 examiners in 20 days they should work every day ->

5 x 4/2 x 2X/1X x 10/20 =  10 hours  

3.       A sum of`731 is divided among A, B and C, such that A' receives 25% more than 'B' and 'B' receives 25% less than 'C. What is C's share in the amount?

(a)`272             (b)`200                  (c)` 262                (d)` 258                 (e) None of these

               Ans: (a)      Let C’s share be ‘X’  Then we have an equation  (¾ X + 3/16X) + 3/4X + X = 731.

                                     Solving we get the value of’ X’ as Rs 272 which is C’s share.

4.       In how many different ways can the letters of the word 'PRAISE' be arranged?

(a) 720              (b) 610                  (c) 360                  (d) 210                  (e) None of these

                    Ans: (a)   The letters can be arranged in 6! Ways.

5.       If the numerator of a fraction is increased by 150% and the denominator of the fraction is increased by 300%, the resultant figure increase/decreases by what percentage?

Ans: Decreases by 50%.  Take an arbitrary figure say ½. If the numerator is increased by 150% and the denominator by 300% then we have a new figure 150/600 -> ¼ which is 50% less than the original figure.

6.       The difference between the amount of compound interest and simple interest accrued on an amount of`Rs 26000 at the end of 3 years is Rs 2994.134. What is the rate of interest per annum?

(a) 22                (b) 17                    (c) 19     (d) Cannot be determined           (e) None of these

Ans: 19%.  26000{1 + R/100}³ – (26000 x 3 x R) / 100 =  2994.134   Solving you will get the value of R as 19%

7.       On a shelf three are 4 books on Economics, 3 books on Management and 4 books on Statistics. In how many different ways can the books be arranged so that the books on Economics are kept together?

(a) 967680       (b) 120960           (c) 5040                (d) 40320             (e) None of these

Ans: (b)  The 3 books on Management and 4 books on Statistics can be arranged in

7! Ways ie 5040. The 4 Economics books among themselves can be arranged in    4! Ways ie 24. Thus the total books can be arranged in 5040 x 24 = 120960 ways w hereby the four Economics books will always be together.

8.       6 women and 6 men together can complete a piece of work in 6 days. In how many days can 15 men alone complete the piece of work if 9 women alone can complete the work in 10 days?

(a) 6                  (b) 5       (c) 4       (d) Cannot be determined           (e) None of these

Ans: (c)   9 women can complete the work in 10 days. One woman can complete the work in 90 days.  One woman in one day can do 1/90 work.  6 women and 6 men take 6 days to complete the work.  6 Women in One day can do 6/90 -> 1/15 work . Thus 6 men and 6 women in one day can do 6M + 1/15 = 1/6 work.   6M in one day can do 1/6 – 1/15 = 1/10 work. Hence 6 M will take 10 days to complete the work. 15 M will take

10      6/15 = 4 days.  

9.       Ravi borrowed some money at the rate of 4 % p.a. for the first three years, at the rate of 8 % p.a. for the next two years and at the rate of 9% p.a. for the period beyond 5 years. If he pays a total simple interest of ` 19,550 at the end of 7 years, how much money did he borrow?

(a) `39,500      (b) ` 42,500          (c) ` 41,900         (d) ` 43,000          (e) None of these

Ans: (b)    Assume the money borrowed as Rs 100.00 Then the total simple interest paid works out like this:  for the first 3 years at 4% -> Rs 12. For the next two years at 8% -> Rs 16. For the next two years (total period is 7 years) at 9% -> Rs 18/. Totally he would have paid Rs 46 on a borrowing of Rs 100.

We are told the total interest paid is 19550. Hence the principal borrowed is

19550/46 x 100 = 42500  

10.   What is the area of a circle whose radius is equal to the side of a square whose perimeter is 112 metres?

(a) 176 sq. m.         (b) 2464 sq. m.          (c) 284 sq. m.     (d) 1956 sq. m. (e) None of these

Ans: (b)    The perimeter of the square is 112 metres. Hence the side of the square is 28 metres which is the radius of the circle. The area of the circle is 22/7 x28 x 28 = 2464 sq.m.

CAT - Verbal & Grammar - 1

CAT – Verbal & Grammar  (Sourced)

Directions: the following sentences make up a paragraph. However, these sentences are not in the proper order. Find the logical sequence for these sentences.

1.       A. After doing so, the heart of your cash flow will be strong and healthy.
B. Cash is your business’s lifeblood.
C. If managed poorly, then your company could go into cardiac arrest.
D. To prevent your business from suffering heart attacks, you should learn to manage cash flow in a well thought-out manner.
E. Several ways to do this is by generating a project rate of returns as well as determining possible problems with liquidity.

a)      ABECD                          b) CBADE             c)  BCDEA             d)  ABDEC           

2.       A. Today, the study of the fruit fly has expanded to research for human diseases.
B. This is because the fruit fly’s robust genetic system makes it an invaluable tool for scientists studying current inheritance diseases.
C. These diseases include Alzheimer’s, Parkinson’s and Huntington’s disease.
D. In past decades, scientists have used the fruit fly as a model organism for examining biological systems. 

a)      DABC                             b)  DACB              c)  BACD               d)  CBAD

3.       A. Adam Smith is often described as the “founding father of economics”.
B. One prominent book he wrote was “Theory of Moral Sentiments”.
C. A great deal of what is now considered standard theory about markets was developed by Adam Smith.
D. It is a very important text in the history of moral and political thought because he talks about individual freedom.
E. According to Smith, this freedom is rooted in self-reliance and the ability of an individual to pursue his self-interest.

a)      EDACB                          b)  ACBED            c)  EBADE             d)  ACBDE

4.       A. For me, it was a restaurateur, who screamed at me for cutting my finger while preparing a salad.
B. He did not even care so much as to wonder if I was unharmed.
C. Everyone has a story about working for an uninspiring boss.
D. As confidence in workplaces dims because of turmoil in the financial markets, now is the time for leaders to step up and communicate more.
E. Of course, before you can commit yourself to becoming the type of boss people want to follow, you must recognize the qualities of bosses who fail to elicit enthusiasm.

a)      BADEC                          b)  CABDE            c)  CBADE             d)  BECDA 

5.       A. It is one of a group of disorders known as parasomnias: unusual activities that occur during sleep.
B. Sleepwalking occurs in the deep stage of sleep when slow brain waves begin to appear.
C. These range from teeth grinding and restless leg syndrome to eating while asleep.
D. Our bodies function according to a 24 hour cycle called a circadian rhythm.
E. Some researchers believe that slight differences in this cycle could be linked to sleepwalking 

a)      BACED          b)  CDBAE            c)  EBACD             d)  BACDE

6.       In the following which does not contain an adverb?

a)      Came late    b)  Came too early           c)  Early bird        d)  Very late dinner         e) Woke up early

7.       Which contains an adverb?

a)      Study hard  b)  Hard life         c)  Rich man        d)  Easy job         e)  One time

8.       How many adverbs are there in the sentence, ‘I really woke up too early this morning’?

a)      0                      b)  1                       c)  3                        d)  2

9.       Which does not contain an adverb?

a)      Too easy      b)  Sincerely yours           c)  My supply     d)  Ate fast          e)  Drive safely 

10.   Which contains an adverb?

a)      Friendly people        b)  Went quickly               c)  Free time       d)  Fast food      

e)  Good question

Answers:    1. (c)               2.  (a)                     3.  (d)                    4.  (b)                    5.  (d)

                   6. (c)                7.  (a)                     8.  (d)                    9.  (c)                     10. (b)

  

iGATE - Aptitude & Verbal

iGATE – Aptitude & Verbal

1.       Complete the sentence choosing the right form of Prefix:

The jectory of a missile is the path taken when the missile is launched into space.
(a) pro                  (b) re                     (c) tra                    (d) in

Ans: (c)

2.       Choose from the options given below which means the same as the underlined prefix.

He has completed his Post Graduate studies in Management.
(a) later                (b) better            (c) higher             (d) bigger

Ans: (c)

3.       Choose the word that is closest in meaning to the word highlighted in the following
sentence:

As a precautionary measure the police were armed to the teeth.
(a) preventive   (b) disciplinary   (c) discretionary               (d) effective

Ans: (a)

4.       Choose the word that is closest in meaning to the word given below:
LATERAL
(a) central           (b) rational          (c) core                 (d) oblique

Ans: (d)

5.       Today, the age of a father is thrice the age of his son. After 5 years the age of father will be 2.5 times the age of his son. The age of son today is: — - - -
(a) 20 years         (b) 15 years        (c) 18 years         (d) 22 years

Ans: (b)

Please note the following shortcut for questions of these types:

Past:  t1 years ago the father was X times the age of his son.

At present the father is Y times the age of his son.

After t2 years the father will be Z times the age of his son.

Past and present when given, the present age of the son is arrived as under:

Son’s age - >     {t1 ( X – I)} / X – Y

 Present and future when given

Son’s present age ->       {t2 (Z – 1)} / Y – Z

Past and future when given the son’s present age is given by

Son’s present age ->     [t1(X – 1) + t2(Z-1)] / X - Z

6.       The total ages of P, Q and R is 27. P is two years older than Q. Q is twice as old as R. Then how old is Q?

(a) 8                       (b) 9                       (c) 10                     (d) 11

Ans: (c)         We have the following equation from the given question:

R + 2R + (2R + 2) = 27. Reducing we get the value of R as 5 and twice this is the age of Q

 If three eighth of a number is 1257, the one fourth of the number will be:
(a) 559                          (b) 670                  (c) 838                   (d) 926

Ans: (c)   3/8 of the number is 1257. Hence the number is 1257 x 8/3 ->   3352.

1/4^th of 3352 is 838.

7.       (483*483*483+ 517*517*517) / (517*517 - 517*483 + 483*483) = ?
(a) 1       (b) 23.4568-        (c) 5436948         (d) 1000

Ans: (d)   a³ + b³ / a² – ab + b²  =   a + b

8.       If a: b :: 3 : 7, then what is (5a+6b): (a-2b)?
(a) 57:-11             (b) -57:11             (c) 11 : 10             (d) -11 : 10

Ans: (a) 57 : - 11    A: B :: 3 : 7  ->  7 A =3 B ->  A = 3/7 B. Substituting this value for A we get the answer.

9.        What must be added to the two numbers, which are in ratio 5 : 12, so that the new ratio
becomes 3:4?
(a) 5                       (b) 8                       (c) 1 2                    (d) 1 6

Ans: (d)  Can be answered directly from the choices given.

10.   Find the option that follows the same analogy as given below:
GIKM : HJLN :: LNPR : ?
(a) LPQR               (b) MOQR           (c). MOQS           (d) OQST

Ans: (c)

11.   Find the option that follows the same analogy as given below:
'Accommodation' is related to 'Rent' in the same as 'Journey' is related to
(a) Luggage         (b) Expenses      (c) Tax (d) Fare

Ans: (d)

12.    If TEACHING is coded CHEATING, then how is GRADIENT coded?
(a) RADIGENT    (b) DIERATING. (c) RGDIEANT    (d) DIRAGENT

Ans: (d)

13.    If SOLID is coded WKQDJ, then how is LIQUID coded?
(a) PEVPOW                       (b) PEUPOX                        (c) PEVQPX                         (d) PEVPOX

Ans: (d)

14.   Five men Ajay, Brajesh, Chetan, Deepesh and Suresh read a newspaper. The one who reads first gives it to Chetan. The one who reads last has taken from Ajay. Suresh is not the first or last to read. There are two readers between Brajesh and Ajay.
To whom does Brajesh pass the newspaper to?
(a) Ajay                                (b) Chetan                          (c) Deepesh                       (d) none of these

Ans: (b)