quantitative aptitude and mathematics 14 october ii
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Business Mathematics AFTERSCHO☺OL – DEVELOPING CHANGE MAKERS
CENTRE FOR SOCIAL ENTREPRENEURSHIP PGPSE PROGRAMME –
World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship
OPEN FOR ALL FREE FOR ALL
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Business MathematicsDr. T.K. Jain.
AFTERSCHO☺OLCentre for social entrepreneurship
Bikaner M: [email protected]
www.afterschool.tk, www.afterschoool.tk
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There are 3 books of accounts, 4 books of maths, 5 books on
leadership, in how many ways can we place them on a bookshelf, if books of one subject will come
together? • 3 books can be put in 3!, 4 books can be
put in 4!, 5 books can be put in 5! We have 3 subjects, thus we have 3! For interchanging subjects. Thus we have 3!*4!*5!*3! = 103680 answer.
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Orange can be made by equal amount of Red and Yellow, Pink can be made by equal amount of white and red. Avocado can be
made from equal amount of orange and pink. What is the minimum and
maximum cost of avocado? • Costs: orange : 22, pink : 18, white : 15,
Red : 20, yellow : 25.
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Solution
• Least cost is when we mix orange with equal amount of (red +white combination).
• This will cost : 22 +17.5 / 2• =39.5 / 2 = 19.75
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Sum of 3rd , 15th, elements of AP is equal to sum of 6th, 11th, and 13th
elements. Which element is Zero?
• (A+2D)+(A+14D) = (A+5D)+(A+10D)+(A+12D)
• =2A+16D = 3A +27 D• =A = -11D• Thus 12th element is Zero. Answer.
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Ajay, Jiten, Dhawal, Goti,Prateek sit together on round table in such a way that the heaviest always sits with the lightest. In how many ways
can they sit together?
• Let us treat the heaviest and lightest as one. Thus we have 4 persons now. The formulae is (N-1)! Thus we have (4-1)! Or 3! Or 6 let us multiply this by 2 (for interchange of heaviest and lightest. Thus 6*2 = 12 answer.
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What is interest rate swap?
• Swap means exchange. When you can exchange your interest rate obligations, it is called SWAP. You may exchange fixed rate obligations for floating rate obligation or you may exchange your obligations in different foreign currencies.
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What is NPA ?
• When there is credit default, it is called NPA. If I take loan from Bank and don’t repay, it will become NPA for the bank and bank will have to take some action for this. NPA = Non performing Asset
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What is EPZ?
• Export Processing Zone – it is a geographic area, where there are special facilities for exporters.
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What is EOU
• Export Oriented Unit. • These are units, which have been set up
exclusively for exporting.
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What is QR?
• Quantitative Restriction• When there is restriction on import, it is
called QR. Now these have been removed as per the discussions held at WTO meetings.
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What is export subsidy?
• These are monetary assistance to exporters for exporting more and more. These are not permitted as WTO guidelines. India also does not give export subsidies, but there are many indirect subsidies that are given like assistance in marketing, export promotion, guarantees, export finance, export insurance etc.
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What is DFEC?
• Duty Free Export Credit. • In order to promote exports, there are
many schemes to promote entrepreneurs to start export houses. One such scheme is DFEC. Served from India is also a DFEC.
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In which market can we have homogenous products?
• Perfect and Oligopoly
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In which markets can we have differentiated products?
• Monopolistic Competition and Oligopoly
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What kind of market is there in Telecom (mobile) in India?
• Oligopoly
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What kind of market is there in case of soaps?
• Monopolistic competition
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What is the formulae of MR?
• MR = marginal revenue• Change in revenue / change in quantity
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What is difference in outlay cost and opportunity cost?
• In outlay cost, we are actually spending some money. In opportunity cost, we are not spending any money.
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If the prices increase, in which of these products, our total sales
revenue will increase?
• Salt, Rice, Car, Mobile, Wheat, Petrol, jewellery • Solution: • Salt, Rice, Wheat, Petrol are essential
commodities, so their demand is relatively inelastic. So, total revenue will increase. Jewellery is luxury goods, but here demand increases with increase in price, so demand may increase. In other cases, total revenue will decrease.
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In your budget line there are three indifference curves A,B,C. A is
higher than B, and B is higher than C. Which curve will you choose for
your decisions? • A because higher indifference curve
represents higher satisfaction.
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I get Sambhar Vada at Rs. 10 per piece. My utility is 30,20,10,5,4 for
successive units. What is my surplus?
• I shall use 3 units. My surplus will be (30-10) + (20-10) + (10-10) = 30 units. Answer.
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Pedagogy • Case analysis,• Articles from Harvard Business Review • Quiz, seminars, workshops, games, • Visits to entrepreneurs and industrial visits• Presentations, Latest audio-visuals• Group discussions and group projects• Periodic self assessment• Mentoring and counselling• Study exchange programme (with institutions out of
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Case Studies
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