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1. Increase in share of FDI inflows is as follows:Services sector = 20.8 – 18.2 = 2.6Construction development = 10.5 – 7.6 = 2.9Automobile industry = 4.9 – 1.9 = 3Power = 3.2 – 1.3 = 1.9. Hence, [C].

2.

Sector 2007 2008 2009 2010 2011 2012 Average

Services Sector 18.2 24.3 20.8 16.8 14.9 20.8 19.3Construction Development 7.6 8.1 12.2 11.7 5.9 10.5 9.33

Telecommunications 5.5 8.3 9.4 7.2 6.6 0.4 6.23Drugs and

Pharmaceuticals 1.4 0.8 0.7 1 9.1 2.7 2.62Computer Software

and Hardware 12.8 5.6 2.5 4.7 2 2.8 5.01Chemicals (other than

Fertilizers) 1.3 1.9 1.7 2.1 16.6 1.5 4.18Automobile Industry 1.9 3.4 5.1 5.9 2.5 4.9 3.95

Power 1.3 3.9 5.8 5.1 4.9 3.2 4.03Metallurgical

Industries 2.5 4.5 1.8 4.9 4.7 6.9 4.22

Hotel and Tourism 1.3 1.6 2.2 2.4 2.6 14.9 4.12

From the table above it is seen that the FDI inflowsaverage has been SECOND LOWEST for AutomobileIndustry. Hence, [B].

3. FDI inflow in chemicals (other than fert ilizers)witnessed a decrease during 2008 to 2009 whichcontradicts option D. Hence, [D].

4. Statements (i) and (ii) are true. But drugs andpharmaceuticals sector was ranked 3rd lowest frombottom in 2012 in terms of percentage share of FDIinflow.∴ Statement (iii) is false. Hence, [B].

5. Increase in FDI inflow percentage share for Tele-communications sector between 2007 and 2008 = 8.3– 5.5 = 2.8.Increase in FDI inflow percentage share for Computersoftware and hardware sector between 2009 and 2010= 4.7 – 2.5 = 2.2.Increase in FDI inflow percentage share for Auto-mobile sector between 2011 and 2012 = 4.9 – 2.5= 2.4.Increase in FDI inflow percentage share for Powersector between 2007 and 2008 = 3.9 – 1.3 = 2.6.Hence, [A].

6. Difference in export share in ASEAN region from2005-06 to 2006-07 = 10.10 – 9.98 = 0.12Difference in export share in South Asian region from

IIFT TEST 2013 - SOLUTIONS2004-05 to 2005-06 = 5.51 – 5.38 = 0.13Difference in export share in West Asia (GCC) regionfrom 2008-09 to 2009-10 = 17.21 – 17.06 = 0.15Difference in export share in North African regionfrom 2009-10 to 2010-11 = 1.75 – 1.59 = 0.16Hence, [D].

7. The export shares for North-America has declined7 times on a year-on-year basis as compared to 6times each for South Asia, North Africa and WestAfrica. Hence, [C].

8.Region 2009-2010 2010-2011 % Increase in

export share

EU Countries 20.16 18.33 -9.08

West Africa 1.76 1.71 -2.84East Africa 1.97 2.13 8.12

North Africa 1.75 1.59 -9.14

North America 11.89 10.98 -7.65

Latin America 3.13 3.72 18.85

ASEAN 10.16 10.21 0.5

West Asia - Gulf Cooperation Council (GCC)

17.06 16.9 -0.94

West Asia (Other than GCC)

3.22 3.09 -4.04

North East Asia 16.12 14.83 -8

South Asia 4.69 4.64 -1.01

From the table it can be seen that North Africa hasthe lowest growth rate between 2009-10 and 2010-11. Hence, [A].

9. Average export share to North Africa during 2008-

09 and 2009-10 = 275.184.1 +

= 1.795

Average export share to east Africa during 2004-

05 and 2007-08 = 458.233.239.137.1 +++

= 1.9175

Average export share to Latin American during 2002-

03 and 2004-05 = 315.240.106.2 ++

= 1.87

Average export share to West Africa during 2007-

08 and 2010-11 = 471.176.184.113.2 +++

= 1.86

Hence, [B].

10. Between 2002-03 and 2003-04 South Asia had thehighest growth rate in India’s export share.This contradicts statement D. All the other state-ments are correct. Hence, [D].

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11. Average managerial wage for Industry 5 = 7508908858009284

−−

= 15803484

= 2.21 lakhs

Average managerial wage for Industry 6 = 3333427131176084

−−

= 9382967

= 3.16 lakhs

Average managerial wage for Industry 3 = 5656683037066479

−−

= 11742773

= 2.36 lakhs

Average managerial wage for Industry 7 =

1567019159696615053

−−

= 34898087

= 2.3 lakhs

Hence, [B].

12. Profit to net value ratio for Industry 6 = 4243431219

= 0.74

Profit to net value ratio for Industry 7 = 7229045392

= 0.63

Profit to net value ratio for Industry 4 = 58313990

=

0.68

Profit to net value ratio for Industry 5 = 7173934943

= 0.49Hence, [A].

13.

IndutryNet Value Added (Rs.

Lakh)

Depreciation (Rs. Lakh)

Gross value added (Rs.

Lakh)

Gross value added per worker

(Rs. Lakh)

Industry 1 3178 41 3219 0.355Industry 2 2284 149 2433 2.77

Industry 3 23640 6667 30307 5.36

Industry 4 5831 1044 6875 6.255

Industry 5 71739 25674 97413 12.974

Industry 6 42434 3515 45949 13.786

Industry7 72290 11246 83536 5.458

From the table it can be seen that difference betweenGross value added per worker for Industry 5 and Industry2 is the maximum. Hence, [C].

14. Fuel consumption as a percentage of input cost for

Industry 3 = 8023810817

× 100 = 13.48%

Fuel consumption as a percentage of input cost for

Industry 7 = 17124632178

× 100 = 18.79%

Fuel consumption as a percentage of input cost for

Industry 2 = 5990762

× 100 = 12.72%

Fuel consumption as a percentage of input cost for

Industry 6 = 1387806461

× 100 = 4.66%

Hence, [B].

15. Emolument as a percentage of net value added is 12.89%of Industry 5 which is the LOWEST.All the other statements are false. Hence, [D].

16. The top 3 countries will be Paraguay, United Kingdomand Chile. Of them Paraguay has least cost to percapita income ratio. Hence, [C].

17. Ratio of number of days for export to import for

UK = 1713

= 0.76

Ratio of number of days for export to import for

UAE = 1411

= 0.78

Ratio of number of days for export to import for

Chile = 2523

= 0.92

Ratio of number of days for export to import for

Georgia = 2322

= 0.95

Hence, [A].

18. All the statements except (D) are false. Hence, [D].

19. All the statements except (C) are true. Hence, [C].

Answers to questions 20 to 25:The given conditions give us the following table:

Room 201 202 203 204 205 206Professor

from Mercury Uranus Pluto Jupiter Mars Neptune

Journals Published

24 12 4 8 16

No. of institutions donated to

8 18 24

20. Thus Mars professor stays in room, 205. Hence, [C].

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21. Jupiter donated to 18 institutions last year. Hence, [C].

22. Professor from Neptune stays in room 206. Hence, [D].

23. Professor from Neptune donated to 24 institutionslast year. Hence, [D].

24. From the given options professor from Uranus publishedthe maximum journals. Hence, [B].

25. Jupiter professor published in 4 journals. Hence, [B].

26. NFRSCA will be coded as “053%20”. Hence, [D].

27. ARFTHE will be coded “%358#%”. Hence, [A].

28. If we look closely at the options [A], [B] and [C]gender of M cannot be determined. So we cannotfind the exact relation of M with respect to T.Hence, [D].

29. Following arrangement comes out from the givenconditions:-S Q P T RHouse P is in the middle. Hence, [A].

30. As the paragraph clearly states that the Asatra Vrikshhas a poisonous fruit, it is obvious that people shouldnot eat it. There is no basis for the remaining options,in the passage. Hence, [C].

31. From the given words we can say:spider is coded as “agnos”poisonous is coded as “crenia”snake is coded as “delano”brown is coded as “deery”.Thus black widow spider cannot be “agnosdelano” andhas to be “agnosvitriblunin”. Hence, [B].

32. To say that being educated does not enhance toprobability of employment, relative figures are re-quired, not absolute figures. Just because the numberof unemployed educated and uneducated youth is thesame, it doesn't mean that the number of employedyouth is also the same in both cases. Only [C] willshed light on the real situation. Hence, [C].

Answers to questions 33 to 35:From the given conditions we get the following.

P Q R S TFemale Male Female Female Male

Un-married Un-married Married Un-married Married

– Badminton Tennis – Chess

33. Only PRS are the ladies. Hence, [D].

34. R is the tennis player. Hence, [B].

35. R is the wife of T. Hence, [D].

36. Angle between hour hand and minute hand is givenby

A = 2M11H30 − . Where H ⇒ hours and M ⇒ minutes

∴ A = 202

11230 ×−× = 50 degrees. Hence, [B].

37. The series is a repetition of “cabbac”. Hence optionD best completes it. Hence, [D].

38. The number increases by 1 in every term and shiftsby 1 alphabet.∴ Option A best completes it. Hence, [A].

39. The alphabets shift by three spaces backwards in everystep and the numbers are of the form (n2 – 1) wheren = 2, 3, 4, .... Hence, [D].

40. Only [C] gives the correct matches. Hence, [C].

41. The correct answer is 'Hercule Poirot'. Hence, [A].

42. The correct answer is 'Japan'. Hence, [B].

43. The correct answer is 'Syria'. Hence, [D].

44. The correct answer is 'NYSE Euronext'. Hence, [A].

45. The correct answer is 'Myanmar'. Hence, [B].

46. Only [A] gives the correct matches. Hence, [A].

47. The correct answer is 'The Cuckoo's Calling'. Hence,[C].

48. The correct answer is 'Jeff Bezos'. Hence, [B].

49. The correct answer is 'Banga Beats'. Hence, [B].

50. The correct answer is 'Mohammed al-Magariaf'. Hence,[A].

51. The correct answer is 'Unique Identification Authorityof India'. Hence, [C].

52. The correct answer is 'Pascal Lamy'. Hence, [C].

53. The correct answer is 'Sushil Kumar'. Hence, [B].

54. The correct answer is 'Chief Economist, World Bank'.Hence, [C].

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55. The correct answer is 'Turkmenistan, Afghanistan,Pakistan, India'. Hence, [D].

56. The correct order is 'iii-ii-iv-i'. Hence, [C].

57. The correct answer is 'Din-e-Ilahi'. Hence, [D].

58. The correct match is given in [B]. Hence, [B].

59. The correct answer is 'INR is likely to appreciateagainst other currencies'. Hence, [A].

60. The correct answer is 'Canada'. Hence, [D].

61. The correct match is in [D]. Hence, [D].

62. The correct answer is 'Rajiv Gram Samridhi Yojana'.Hence, [A].

63. The correct order is 'iv-iii-ii-i'. Hence, [B].

64. The correct answer is 'Jhansi'. Hence, [C].

65. The correct answer is 'Russian Federation'. Hence,[A].

66. The correct answer is 'Hydrogen'. Hence, [A].

67. The correct answer is 'China and India'. Hence, [C].

68. Only [C] matches the words and meanings correctly.Hence, [C].

69. Only [B] matches the words and meanings correctly.Hence, [B].

70. 'Envisages', meaning 'contemplates/visualizes' can fillall the blanks. (iv) is the deciding sentence as thecompany will not 'seek' a good production year, but'visualize' it. Hence, [B].

71. 'Provided' fits all sentences. (iv) is the deciding sentenceas only 'provided' can fit the blank here. Hence, [D].

72. (ii) has to be the opener as it introduces Gauhar'sintention of singing Bengali songs. (i) has to comebefore (iii) and (iv) as Tagore's full name is givenin (i). (iv)-(iii) is a link due to the word 'instead'.Hence, [C].

73. (iii) talks about the afternoon, whereas the remainingstatements talk about the evening, so (iii) should bethe opener. (iv) should follow (i) as after Adele randownstairs, the author would have been left alone.(ii) explains why there was nothing to be seen outsidethe window, so it should follow (iv). Hence, [B].

74. 'Alleviate' and 'aggravate' are opposites. The oppositeof 'elastic' is 'rigid'. Hence, [A].

75. 'Benevolent' and 'kind' are synonyms. The synonymof 'unclear' is 'muddy'. Note: thickness and clarityare two separate things. Hence, [D].

76. The answer is 'polygot'. Hence, [A].

77. The answer is 'culpable'. Hence, [B].

78. The correct meaning of the idiom is 'to be prejudiced'.Hence, [A].

79. The correct meaning of the idiom is 'to be uncertainof one's position'. Hence, [D].

80. There is a subject-verb agreement in [D]: 'are' shouldbe replaced by 'is', as when two subjects are joinedby 'nor' the subject closer to the verb, i.e. Shikha,determines the verb. As 'Shikha' is singular, the verbshould be singular. Hence, [D].

81. 'Each' should be followed by a singular verb/pronoun.So, [B], which uses 'were' and 'their family', gets elimi-nated. [A] also gets eliminated as it uses 'they wereabandoned'. [C] is the correct statement as the pastperfect tense is used for an action that got completedbefore another action in the past. The ill treatmentpreceded the abandonment, so 'had been ill-treated'is the correct tense form. Hence, [C].

82. 'As busy as a bee' is a simile. Hence, [D].83. The correct spelling is 'amelioration'. Hence, [D].

84. The correct spelling is 'gazette'. Hence, [A].

85. 'Apocryphal' means 'of doubtful authenticity', so thecorrect antonym is 'authentic'. Hence, [A].

86. 'Capricious' means 'erratic', so the correct antonymis 'consistent'. Hence, [D].

87. As the main statement uses past continuous tense,so should the answer. Hence, [B].

88. In the sixth paragraph, the author implies that Madoff'swife and sons were not guilty and that is why theydid not flee the country. Hence, [D].

89. The last sentence of the first paragraph gives theanswer. Hence [C].

90. The author has stressed on the surprising treatmentof Madoff's family, by the public and media. Thoughno option gives the absolutely correct answer, [B]is the closest. Hence, [B].

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91. [A] is clearly negated by the first sentence of thesixth paragraph. Hence, [A].

92. The answer is clearly stated in the last two sentencesof the first paragraph. Hence, [C].

93. The answer can be calculated from the sentence inthe first paragraph: 'In the early seventies…' and thesentence in the third paragraph: 'By the end of the1980's …'. Hence, [C].

94. The second paragraph gives many clues to indicatethe correct answer: 'tasteful print ads in upscale foodmagazines', 'airplane meals' and 'Rolls-Royce'. Hence,[D].

95. The last paragraph contains a sentence that statesthe ratio of tomato solids to liquid in World's Bestis much higher than in Heinz. Hence, [C].

96. Throughout the first two paragraphs, the author triesto establish [B]. Hence, [B].

97. A 'conundrum' is a riddle or an 'enigma'. Hence, [A].

98. The last sentence of the penultimate paragraph clearlyindicates [B]. Hence, [B].

99. The sixth paragraph clearly states that being 'pro-business' (not pro-market) often leads to cronycapitalism. So, [B] is incorrect. Hence, [B].

100. There isn't one main concern regarding the Brazilianeconomy that has been highlighted in the passage.All three concerns i.e. [A], [B] and [C] have beentalked about at separate places in the passage. Hence,[D].

101. The first two sentences of the sixth paragraph revealthe answer. Hence, [A].

102. The sixth and the seventh paragraphs reveal howinflation has been a problem for Brazil since the early1980s. Though its method of dealing with inflationhas attracted a lot of foreign money, the paragraphdoesn't state that this has given Brazil a significantedge. So, [D] is false. The second sentence of thepenultimate paragraph makes [A] correct. [B] canbe calculated from the last sentence of the firstparagraph. [C] can be inferred from the penultimatesentence of the passage. Hence, [D].

103. Iron ore, soyabeans and sugar have been mentionedin the very first line of the passage. Items in [A]and [D] are mentioned in the last sentence of thepenultimate paragraph. The third paragraph discusseshow expensive croissants and bikes are, but doesn'tmention that they are exported. Hence, [C].

104. Number of black balls in all bags = 1 + 3 + 5 +7 = 16Number of red balls in all bags = a2 – 6a + 9 + a2

– 6a + 7 + a2 – 6a + 5 + a2 – 6a + 3 = 4a2 –24a + 24

Required probabil ity = 1624a24a416

2 ++− =

10a6a4

2 +−

The maximum possible value of the above expressiondepends on the value of ‘a’ and varies from 0 to1. Hence, [D].

105. 3094 = 2 × 7 × 13 × 17∴ a = 2; b = 7; c = 13 and d = 17∴ b × c = 7 × 13 = 91. Hence, [B].

106. Le the number of strawberry candies bought by Mrs.Sonia be x and the number of chocolate candies boughtbe y.∴ 3.3x + 2.9y = 249From the given options only x = 57 and y = 21satisfies this equation. Hence, [B].

107. BC = 397 feetLet AB = 3x

∴ AC = 3 × 3x = 3x+1

Also, 3x is a perfect cube.Using the options the only value of 3x can be 729∴ AB = 729 feetAC = 2187 feet∴ Perimeter = 3313 feet.This question has a flaw, as sum of two sides of thetriangular building does not exceed the third sideeverytime. But the most suitable answer option is3313 feet. Hence, [D].

108. Choosing 4 consonants from 8 can be done in 8C4= 70 waysChoosing 3 vowels from 5 can be done in 5C3 = 10waysArranging 7 distinct letters to form words can bedone in 7! ways.∴ Number of words = 7! × 70 × 10 = 3528000Hence, [C].

109. x2 + 3x – 10 is a factor of 3x4 + 2x3 – ax2 + bx– a + b – 4x2 + 3x – 10 = (x + 5) (x – 2)∴ x = –5 and 2 will satisfy the equations3x4 + 2x3 – ax2 + bx – a + b – 4 = 0Putting x = –5 and x = 2, we have two equations26a + 4b = 1621 and 5a – 3b = 60Solving these equations, a ≅ 52 and b ≅ 67Hence, [C].

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110. When the product is known, the sum of the numberswil be minimum when the numbers are equal.Product of ‘n’ numbers = nn

∴ Minimum sum happens when all the numbers are‘n’.∴ Minimum sum = n × n = n2

∴ The sum cannot be less than n2.Hence, [D].

111. Ball falls 180m and then bounces back to 53

× 180

= 108m

∴ Total distance covered = 180 + 2 × 531

108

− = 180

+ 540 = 720m. Hence, [C].

112. The 1st male can be selected in 9 waysHe can be paired with any of the 8 female members.Also as husband and wife do not play the same match,the 2nd male an be selected in 7 ways.He can be paired with the 6 other female members.

∴ Total teams = 26789 ×××

as each match is played

by 2 teams∴ Total teams = 1512.Hence, [A].

113. Probability that train P is late = P(P) = 97

Probability that train Q is late = P(Q) = 2711

∴ P(P1) = 92

; P(Q1) = 2716

; P

PQ

= 98

P(P I Q) = P(P). P

PQ

= 97

× 98

= 8156

.

P(P U Q) = P(P) + P(Q) – P(P I Q)

= 81563363 −+

= 8140

∴ P[(P U Q)1] = 1 – 8140

= 8141

This is the best possible answer although the givendata is inconsistent. Hence, [B].

114. Ratio of MBA applicants good in logical reasoningto total MBA applicants = 0.8∴ MBA applicants good both in logical reasoningand data interpretation = 0.8 × 0.15Ratio of MBA applicants good in quantitative aptitudeto total MBA applicants = 0.2

∴ MBA appicants good both in quantitative aptitudeand data interpretation = 0.2 × 0.87.

Required probability = 15.08.087.02.087.02.0

×+××

= 294.0174.0

= 0.59. Hence, [B].

115. r = 14cmh = 16.5cm

2l = h2 +r2 = 702.25 + 196 = 898.25

∴ l ≈ 30cm

Curved surface area of 7 such caps = 7 × 722

× 14

× 30 = 9240 sq.cmHence, [D].

116.34m

21m

4m

4m

Required area = 34 × 21 – 34 × 4 – 21 × 4 + 4× 4= 714 – 136 – 84 + 16 = 510 sq.cmHence, [C].

117.

−100

x1 70 =

+100

x1 60

∴ 70 – 100x70

= 60 + 100x60

∴ 100x130

= 10

∴ x = 1301000

∴ 50 × 100x

= 10050

× 1301000

= 3.846

Hence, [A].

118. LCM of 12, 18 and 32 = 288∴ Each of the 3 equals parts is of 288 units∴ Rod length = 3 × 288 = 864 unitsHence, [B].

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119. log10x – log10 3 x = 6logx10

∴ log10

31

x

x = logx106

∴ log1032

x = logx106

Only for x = 1000 this equation is satisfied.Hence, [D].

120. Let the mother complete the cooking in ‘x’ hrs andthe elder and younger son take ‘y’ hrs and ‘z’ hrsrespectively for the same.

∴ z1

y1

x1

++ = 1

Also, z4

y1

+ = 1 and x = y – 1

∴ z4

= 1 – y1

∴ z1

= 41

– y41

∴ y41

41

y1

1y1

−++− = 1

∴ 1y1− + y4

3 = 4

3

∴ y4y43y3y4

2 −

−+ = 4

3

∴ 28y – 12 = 12y2 – 12y∴ 12y2 – 40y + 12 = 03y2 – 10y + 3 = 0

∴ y = 3 or y = 31

But y cannot be equal to 31

∴ y = 3 and x = 2∴ In 1 hour the mother will complete 50% of thecooking. Hence, [B].

121. Let the distance of doctor’s chamber from Rohit’shouse be x

∴ 6048

12x

30x

++ = 5

∴ 2x + 5x + 48 = 300∴ 7x = 252x = 36Hence, [C].

122. Let 8 kg alloy contain x% aluminuim and 16 kg alloycontain y % aluminium.Let m kg be cut off from both alloys.

8kg Alloy 16kg AlloyAluminium initially 0.08x 0.16y

Aluminium in 'm' kg of alloy

Aluminium left after taking out 'm' kg of alloy

Aluminium after mixing the other 'm' kg alloys

8xm08.0

16ym16.0

8xm08.0

x08.0 −16

ym16.0y16.0 −

16ym16.0

8xm08.0x08.0 +−

8xm08.0

16ym16.0y16.0 +−

Now after the mixing of the alloys % aluminium issame

816

ym16.08xm08.0x08.0

+−

× 100 =

168xm08.0

16ym16.0y16.0

+−

× 100

∴ 2

+−16

ym16.08xm08.0x08.0 = 0.16y – 16

ym16.0

+ 8xm08.0

∴ 2.56x – 0.32xm + 0.32ym = 2.56y – 0.16ym+ 0.16xm∴ 2.56(x – y) = 0.48m(x – y)

∴ m = 48.056.2

= 5.33 kg. Hence, [C].

123. Total gain = 1005

× 10000000 = 500000

Amount deposited in back = 3000000

Gain on this amount = 3000000 3

100121

+ – 3000000

= 1214784∴ Loss on the remaining amount = 1214784 – 500000= 714784

∴ Loss percentage = 7000000714784

× 100 = 10.21%

∴ He sold the other items at approsimately 90%value. Hence, [C].

124. log13 log21 { }x21x ++ = 0

∴ log21 { }x21x ++ = 130

∴ 21x + + x = 211

21x + = 21 – x

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8

∴ x + 21 = 441 + x – x42

∴ x42 = 420

∴ x = 100. Hence, [D].

125. 3x2 – 4x + 7 = 3x2 – 4x + 34

+ 317

= 2

32x3

− + 3

17

Minimum value of the square term is zero

∴ Minimum value of the expression is 317

.

Hence, [D].

126. If average of T consecutive numbers is P, then ‘P’is the 4th number. If 3 more numbers are added theaverage would be the average of the 5th and the 6th

numbers.

New average = 22P1P +++

= 1.5P.

Hence, [C].

127. Let ‘t’ be the duration of the journey‘d’ be the distance‘v’ be the velocity‘m’ be the diesel used for the journey‘n’ be the number of carriages in the train

∴ t = k dmnd×

6045

= 7010

1570k ××

∴ k = 151

701

43

7010

××× = 1400

17010

×

∴ 21

= 7010

×1400 × 50m1850×

∴ 50m

= 2 × 7010

× 14001850×

∴ 50m

= 4981

7010

×

∴ m = 3435081×

= 11.8 litres

Hence, [B].

128. Let tap x take ‘x’ hours to fill the tank alone andtap y take ‘y’ hours to fill the tank alone.

∴ 401

y1

x1

=+

Also, y1

= x6.1

∴ x1

+ x6.1

= 401

∴ x = 104 hours∴ y = 65 hoursHence, [B].