IIFT 2013 Question Paper

Total managerial wage bill is defined as the difference between total emoluments and total wage to workers, and total managerial staff is defined as the difference between total person engaged and total number of workers.

Then average managerial wage would be  :  Total managerial wage bill/total managerial staff 

Average managerial wage = (total emoluments - total wage to workers)/( total person engaged - total number of workers)

Now calculate the average managerial wage for industry 3, 5, 6, and 7.

For industry 3: (6479 - 3706) lakhs/ (6830 - 5656) => 2773/1174 lakhs = 2.36 lakhs

For industry 5: (9284 - 5800) lakhs/ (9088 - 7508) => 3484/1580 lakhs = 2.20 lakhs

For industry 6: (6084 - 3117) lakhs / (4271 - 3333) => 2967/938 lakhs = 3.16 lakhs

For industry 7:(15053 - 6966) lakhs / (19159 - 15670) => 8087/3489 lakhs = 2.31 lakhs

Therefore, average managerial wage for industry 6 is maximum which is option B.

Let's solve the options one by one.

Option A: For industry 6:

Profit  = 31219 lakhs

Net value added = 42434 lakhs.

Required ratio = $$\ \frac{\ 31219}{42434}$$ *100

= 73..57 %

Option B: For industry 7:

Profit = 45392 lakhs

Net value added = 72290 lakhs.

Required ratio = $$\ \frac{\ 45392}{72290}$$ *100

= 62.79 %

Option C: For industry 4:

Profit = 3990 lakhs

Net value added = 5831 lakhs.

Required ratio = $$\ \frac{\ 3990}{5831}$$ *100

= 68.42 %

Option D: For industry 5:

Profit = 34943 lakhs

Net value added = 71739 lakhs.

Required ratio = $$\ \frac{\ 34943}{71739}$$ *100

= 48.70 %

Clearly A is the correct answer.

Gross value added is defined as the sum of net value added and depreciation.

Let's calculate gross value added per worker for all industries:

Industry 1: (3178+41)/9066 = 0.35 lakhs 

Industry 2: (2284+149)/877 = 2.77 lakhs

Industry 3: (23640+6667)/5656 = 5.35 lakhs

Industry 4: (5831+1044)/1099 = 6.25 lakhs

Industry 5: (71739+25674)/7508 = 12.97 lakhs

Industry 6: (42434+3515)/3333 = 13.78 lakhs

Industry 7: (72290+11246)/15670 = 5.33 lakhs

Now checking the option one by one;

a) industry 6 -industry 3 = 13.78 - 5.35 = 8.43 lakhs

b) industry 7 -industry 1 = 5.33 - 0.35 = 4.98 lakhs

c) industry 5 -industry 2 = 12.97 - 2.77 = 10.2 lakhs

d) industry 6 -industry 4 = 13.78 - 6.25 = 7.53 lakhs

Hence the difference between industry 2 and 5 is maximum, hence option c is our answer.

Let's solve the options one by one.

Option A: For industry 3:

Fuel consumed  = 10817 lakhs

Total inputs cost = 80238 lakhs.

Required ratio = $$\ \frac{\ 10817}{80238}$$ *100

= 13.48 %

Option B: For industry 7:

Fuel consumed = 32178 lakhs

Total inputs cost = 171246 lakhs.

Required ratio = $$\ \frac{\ 32178}{171246}$$ *100

= 18.79 %

Option C: For industry 2:

Fuel consumed = 762 lakhs

Total inputs cost = 5990 lakhs.

Required ratio = $$\ \frac{\ 762}{5990}$$ *100

= 12.72 %

Option D: For industry 6:

Fuel consumed = 6461 lakhs

Total inputs cost = 138780 lakhs.

Required ratio = $$\ \frac{\ 6461}{138780}$$ *100

= 4.6 %

Clearly B is the correct answer.

Let's check it option by option;

a) Number of worker’s per factory is third highest for industry 6

number of worker's per factory in industry 1 : 9066/65 = 139.47

number of worker's per factory in industry 2 : 877/110 = 7.97

number of worker's per factory in industry 3 : 5656/32 = 176.75

number of worker's per factory in industry 4 : 1099/30 = 36.63

number of worker's per factory in industry 5 : 7508/78 = 96.25

number of worker's per factory in industry 6 : 3333/39  =85.46

number of worker's per factory in industry 7 : 15670/300 = 52.23

we can clearly see that number of workers per factory 4th highest for industry 6 ; hence statement 1 is false.

Moving on to statement b);

Expense on Material consumption expressed as a percentage of input cost is second highest for industry 4

for industry 1: 77%

for industry 2: 69%

for industry 3: 71%

for industry 4: 83%

for industry 5: 88%

for industry 6: 88.8%

for industry 7: 62%

Hence statement b) is also false as it is third highest.

Moving on statement c);

Profit earned expressed as a percentage of emolument is second highest for Industry 7

for industry 1: 39%

for industry 2: 122%

for industry 3: 144%

for industry 4: 389%

for industry 5: 376%

for industry 6: 513%

for industry 7: 301%

clearly, Profit earned expressed as a percentage of emolument is second highest for Industry 6 which makes statement c false.

Now we have only 1 statement left which has to be true.

So our answer is D)

you can also cross-check it but it is not recommended in exam time.

The countries are ranked according to the number of days required to start a business.
The ranking of the countries is as follows.
Paraguay, United Kingdom, Chile, Tanzania, United Arab Emirates, Georgia, Nigeria.
Top three countries cost to per capita income ratio of Paraguay, United Kingdom, Chile is 2.6, 4.1, 35.8 respectively.
Among these three countries, Paraguay has the least cost to per capita income ratio.
C is the correct answer.

The ratio of total days to export to that of import for the UK = $$\frac{13}{17}\approx\ 0.7647$$

The ratio of total days to export to that of import for UAE = $$\frac{11}{14}\approx\ 0.7857$$

The ratio of total days to export to that of import for Chile = $$\frac{23}{25}=\ 0.932$$

The ratio of total days to export to that of import for Georgia = $$\frac{22}{23}\approx\ 0.956$$

Since the least ratio is for the UK,

the correct option is A.

Option A:

Time for export in Tanzania = 8 days            

Time for import in Tanzania = 6 days.

Since the number of days for export is greater than import, this option is incorrect.

Option B:

From the graph, it is evident that the sum of the number of days required for exporting and the number of days required for importing for the UK is less than that of Niger, Georgia, and Chile; this is not the correct option.

Option C:

Since starting a business in Paraguay takes 2 lesser days than importing, this is not the correct option.

Option D:

As the number of days required for importing is 1 day more than that of exports, this is the correct option.

Thus, the correct option is D.

Option A: Since the number of days required to start a business in Georgia is one less than that in Tanzania, this is true and hence is not the answer.

Option B: Since the number of days required for starting a business in the UK is equal to the number of days for exporting in the UAE, which is 11, this is not the correct option.

Option C: Since the number of days required for importing in Georgia is two days lesser than the number of days required for exporting in Niger, this is the correct option.

Option D: Since the statement of this option is also true, this is not the correct option.

Thus, the correct option is C.

Let us start by making a table as shown below:-

We are given that, The professor in room number 203 published in 12 journals and donated to 8 institutions last year. Thus, put 12 and 8 in Row 3 and Row 4 of column 203.
The Mercury professor is staying in an odd numbered room. Thus, the Mercury professor is staying in either of room 201, 203 or 205.
The Mars professor is staying two rooms ahead of Pluto professor who is

staying two rooms ahead of the Mercury professor in ascending order of

room numbers. If the Mercury professor is staying in 203 or 205 then there will be no room for professor Mars.
Thus, the Mercury professor is staying 201, the Pluto professor is staying in 203 and the Mars professor is staying in 205.
Put these values in their respective columns.
The professor in room no. 202 has published in twice as many journals as the professor who donated to 8 institutions last year.
We know the Pluto donated to 8 institutes last year and has published in 12 journals.
Thus, the professor in room no. 202 has published 24 journals.
The table till now is:-

Henc The professor from Jupiter published in 8 journals less than the professor from Pluto but donated to 10 more institutions last year.
We know Pluto donated to 8 institutes last year and has published in 12 journals. Thus, the professor from Jupiter published in 4 journals and donated to 18 institutes.
The professors from Mercury and Jupiter do not stay in room number 206.
Thus, the professor from Jupiter has to stay in either 202 or 204.
But the professor in room no. 202 has published 24 journals which is not the case with the professor from Jupiter.
Thus, the professor from Jupiter has to stay in room 204.
The professor from Uranus and the Professor in room number 206 together published in a total of 40 journals.
From this we can say that the professor from Uranus is not staying in room 206 and thus is staying in room no 202.
Thus, the professor from Neptune is staying in room no. 206.
The professor from Uranus has published papers in 24 journals and thus, the professor from Neptune has published papers in 16 journals.
The professor who published in 16 journals donated to 24 institutions last year.
Thus, the professor from Neptune has donated to 24 institutes last year.
Thus, the final table is:-

Thus, the professor from Mars is staying in Room 205.
Hence, option C is the correct answer.