MBA CENTRAL QUIZ-1

VERBAL APTITUDE

QUESTION 1 TO 5.

It is important to remember that 250 years ago there did not exist the great disparities in income that exist today between nations. As the years went by, however, a new generation of historians emerged who began to challenge the classic

picture. These scholars expended great time and effort interpreting the historical data. One of them concluded that the land tax had not been exorbitant – by 1900 it was only 5 per cent of the agricultural output, which was less than half the average per capita tax burden. Another agreed that there had been a “drain of wealth” from India to Britain, especially in the nineteenth century, but it was only 1.5 per cent of GNP every year. The revisionist historians argued that India’s payments to Britain were for real military and civilian services and to service capital investments . Also, the overhead cost to maintain the British establishment was quite small. They conceded that India did have a balance of payments surplus which Britain used to finance its part of the deficit, but they said that India was partially compensated for it through the import of gold and silver into India.

The revisionists’ serious challenge was to the nationalist thesis that Britain had deliberately deindustrialised India. They agreed that Indian industry declined in the nineteenth century. They calculated that India enjoyed 17.6 per cent of the world’s industrial production in 1830, while Britain’s share was 9.5 per cent. By 1900, India’s share had declined to 1.7 per cent while Britain’s had grown to 18.6 per cent. But this decline, they argued, was caused by technology. The machines of Britain’s industrial revolution wiped out Indian textiles, in the same way that traditional handmade textiles disappeared in Europe and the rest of the world. Fifty years later, Indian textiles would have destroyed them. India’s weavers were thus the victims of technological obsolescence.

Handlooms all over the world gave way to mill-made cloth, and weavers everywhere lost their jobs. Unfortunately, there were more weavers affected in India because India was the largest maker of textiles in the world. This is not to take away from the great misery and enormous suffering caused by their impoverishment. If the British Raj had been sensitive to their plight, it might have erected trade barriers in India. This might have cushioned the impact and Indian handmade textiles might have survived for a period.

After 1850, Indian entrepreneurs began to set up their own modern textile mills. By 1875, India began to export textiles again and slowly recaptured the domestic market. In 1896, Indian mills supplied only 8 per cent of total cloth consumed in India; in 1913, 20 per cent; in 1936, 62 per cent; and in 1945, 76 per cent. Both British and Indian capitalists made large profits during the First World War. While the British business remitted their wartime profits to England, Indian businessmen reinvested theirs in new industrial enterprises after the war. Thus, Indian industry began to grow rapidly after the war.

Logical Reasoning

Question: 1 to 4

Eight teams - P, Q, R, S, T, U,V and W took part in a football tournament and were divided into two pools of four teams each, In each pool, each team plays with every other team exactly once. Three points are awarded for a win, one point for a draw and zero points for a loss.

Matches are scheduled such that two matches are played on each day – Day 1, Day 2 etc., and all matches are completed by Day 6. No team plays more than one match in a day.

The table below gives the points of the teams at the end of both matches on that day.

Note: It is known that team S lost to team P.

QUANTITATIVE APTITUDE:

QUESTIONS 1 to 10