LIC AAO (Assistant Administrative Officer) 2015 Exam Question paper

Instructions

Each of the questions below consists of a question and two statements numbered I and II are given below it. You have to decide whether the data provided in the statements are sufficient to answer the question. Read both the statements and
Give answer 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.
Give answer 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.
Give answer c: if the data in Statement I alone or in Statement II alone are sufficient to answer the question.
Give answer d: if the data in both the Statements I and II together are not sufficient to answer the question.
Give answer e: if the data in both the Statements I and II together are necessary to answer the question.

Question 62

After how many months (from the start of business) did C join the business?
(I) A and B 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. 45,000. The sum of A’s share in the annual profit and B’s share in the annual profit was Rs. 35,100.

Solution

(I) : In the first statement, the ratio of the investment of A : B = 7 : 6 and B : C = 12 : 11

=> Ratio of investments of A : B : C = 14 : 12 : 11

But time period is not mentioned, and thus statement I alone is not sufficient.

(II) : The total profit earned by them = Rs. 45,000

But ratio of investment is still unknown, so this statement alone is also insufficient.

By combining both the statements, we can find the time after C joined the business, since then both ratio of investment and final profit will be known

=> Ans - (E)


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