AU Small Finance Bank Personal Loan @ 14% | Features, Documents Needed, Eligibility Criteria and Ways to Apply

AU Small Finance Bank Personal Loan @ 14% | Features, Documents Needed, Eligibility Criteria and Ways to Apply

AU Small Finance Bank Personal Loan: Personal loans can be seen as a form of installment credit. It is different to a credit card in the sense that a personal loan makes a one-time payment of cash to borrowers. The money is borrowed for a certain amount of time, and borrowers pay back the borrowed amount plus interest in regular, monthly installments over the “term” of the Loan.

Personal loans come to one’s rescue when one is short of money. It is very easy to access personal loans, and they are granted so fast that many people take personal loans often to meet expenses. In recent times, lots of people have AU Bank Personal Loan Apply.

Want to compare AU Small Finance Bank Personal Loan with other bank personal loans for lowest interest rates and extra offerings? Just keep an eye on our Complete Guide on Personal Loan & choose the suitable bank to apply for the loan.

In this article, we will discuss in detail AU Small Finance Bank Loan details like the various intricacies of the complicated procedure, including AU Small Finance Bank Loan Interest Rate.

AU Small Finance Bank

AU Small Finance Bank Overview

AU Small Finance Bank Personal Loan is the personal Loan provided by Au Small Finance Bank for when someone needs money quickly. Their loans are designed to take care of all customer’s financial needs with minimal possible documentation and usually provide speedy approvals.

AU Small Finance Bank Personal Loan Features

Features of the Bank are:

  • Free of any Collateral
  • There is the bare minimal need of documentation
  • Easy and instant approval of any type of Personal Loan
  • Easy repayment options for applicants to avail various services
  • Multipurpose end-use schemes

One can utilize the AU Small Finance Bank’s Personal Loans can for the following:

  • Educational purposes
  • Home renovation pursuits
  • Fulfilling Goals for a Wedding
  • Intents for Traveling
  • Debt consolidation
  • Healthcare measures

How to Apply for a Personal Loan in AU Small Finance Bank?

One can apply for a certain amount for a personal loan in AU Small Finance Bank in both the online and the offline methods.

Online Method

When one applies for a personal loan online, one is directly purchasing it from the bank without any involvement of the middlemen. Further, there are no added costs like agent commission.

Step 1: In order to apply for a personal loan at AU Small Finance Bank, one needs to log on to their website and click on the “Apply for a Loan” option at the top menu selections. One can find a personalized EMI calculator where one puts in the details of the Loan, like the amount to be borrowed and the term of the loan.

Step 2: After one has put in the details, one has to click on apply for Loan. After this, a new window opens where one has to put in essential details like account numbers and the documents needed for loan approval. Finally, after double-checking the information, click on submit to submit your loan demand.

Offline Method

There are two ways one can apply for a personal loan at AU Small Finance Bank in the offline method-

At the Bank Branch: In this method, the borrower needs to visit a branch of the bank, fill out the form with all the essential details needed and finally submit it with whatever documents are required.

Through an Agent: Banks have various agents who sell personal loans. These agents are especially helpful If one needs guidance before applying for the Loan. However, they are paid a commission, and this might create a small increase in one’s interest rates.


AU Small Finance Bank Personal Loan Eligibility Criteria

  • The person who is applying for the Loan has to be a resident of India.
  • The minimum age a borrower has to be before applying for a personal loan at AU Small Finance Bank is 23 years of age.
  • The borrower cannot be above the age of 58 years at maturity.
  • The tenure or the time period of the loan, i.e. the amount of time in which the borrowed amount is to be paid back with interest to the bank, cannot be more than 02 to 60 months.
  • The upper limit for the amount a person can apply for the Personal Loan is it can’t be more than 7.5 lakhs.

AU Small Finance Bank Personal Loan Documents Required

It is paramount for AU Small Finance bank to ask for the checking of documents before approving a loan. These are the various documents needed to apply for AU Small Finance Bank Personal Loan:
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  • Personal Loan application with a recent photograph
  • PAN Card copy
  • Identity proof (Passport copy, Aadhaar copy, Driving license copy, Voter Id Card)
  • Address proof (Passport copy, Aadhaar copy, Driving license copy, Voter Id Card)
  • Income proof (Salary slip, ITR document)
  • Bank Statement for last six months

AU Small Finance Bank Personal Loan Features

  • AU Small Finance Bank, the borrower, can use a Personal Loan to fund different things: It is applicable to use AU Small Finance Bank Personal Loan for various items ranging from education, home renovation, and weddings to Healthcare and debt consolidation.
  • Flexi payment options from 2 to 60 months: The borrower can have flexible payment schedules that range from 2 months to 60 months to pay off the borrowed amount. This goes a long way in helping the customer pay off his debts on his own time and when he can, thereby reducing stress.
  • Instant credit/disbursement: When a loan is granted and approved, the borrower gets the amount he asked for to be borrowed instantly into his account. This plays a significant role if one is in an emergency and needs a substantial amount of money in a very short period of time.
  • Minimum documentation: When the customer needs a personal loan, it requires minimal documentation to ask for a loan and get the Loan approved. This helps in the case of an emergency as the procurement and checking of minimal documents saves a lot of time.
  • Avail loans up to 7.5 lakhs: The upper limit for a personal loan in AU Small Finance Bank is a whopping amount of 7.5 lakhs. Keeping the upper limit so high comes in helpful when a customer needs a substantial amount of money.
  • No security or guarantor required: The approval of the personal Loan does not need another person as guarantor to be present and to be held accountable if the borrower fails to pay for the money.
  • Low Interest Rates: A personal loan of twenty-five thousand rupees over a period of six months will charge the borrower an interest rate of fourteen per cent. However, this interest rate changes with the amount of money borrowed and the time that it is borrowed for.

Takeaways from the Article

Thus, this concludes the article detailing personal loans and, in particular, AU Small Finance bank personal Loans. It is very integral to understand the basics and intricacies of the methods to apply for personal loans. This article details a few of the important things to know and understand in order to apply for a personal loan.

The information about personal loans is not just limited to this article. One must always read carefully the terms and conditions a specific bank puts out before applying to it for a loan.

Meetings of Board and its Committees – Company Law Important Questions

Meetings of Board and its Committees – Company Law Important Questions

Meetings of Board and its Committees – Company Law Important Questions

Question 1.
State whether a board meeting of a company can be held at any place (June 2010) (4 marks)
Or
Board meetings of a company to be held at the registered office of the company during the working hours on a day that is not a public holiday. (December 2011) (4 marks)
Answer:

  • In accordance with Section 96(2), an annual general meeting can be called during business hours, that is, between 9 am and 6 pm on any day that is not a National Holiday.
  • No similar provision for holding a Board Meeting is in place.

Hence, the Meeting of the Board may be held at any place convenient to the directors even outside the business hours and even on a national holiday unless the articles provide otherwise.

Question 2.
Star Gen Ltd. held a meeting of its Board of Directors on 31st October 2010 at its registered office. Though the company has 12 directors on its board, only 5 directors were present at the commencement of the meeting. Thereafter, even while the meeting was in progress, 2 more directors left the meeting and the remaining directors carried on the proceedings of the meeting. Discuss the validity of decisions, if any, taken by the remaining three directors. (December 2012) (4 marks)
Answer:
1. Quorum for Meetings of Board [Section 174( 1)]:
One-third of total strength or two directors, whichever is higher, shall be the quorum for a meeting.

The articles of association of the company may provide for a higher Quorum.

2. Presence of Quorum throughout the meeting:
The quorum shall be present not only at the time of commencement of the Meeting but also while transacting business. A director shall not be reckoned for quorum in respect of an item in which he is interested and he shall not be present, whether physically or through electronic mode, during discussions and voting on such item.

The Act lays down only the minimum number to form a quorum, a company by its articles can provide for a higher number of quorum – AmritKaur Puri v. Kapurthala Flour, Oil & General Mills Co. (P.) Ltd. [1984] 56 Comp Cas 194 (P & H)

3. As per the given case, Star Gen Ltd. held a meeting of its Board of Directors on 31st October 2010 at its registered office. Though the company has 12 directors on its board, only 5 directors were present at the commencement of the meeting. Thereafter, even while the meeting was in progress, 2 more directors left the meeting and the remaining directors carried on the proceedings of the meeting.

Thus, the quorum falls below the required number after 2 more directors left the meeting. For subsequent business transacted without required Quorum is void.

Question 3.
Out of 9 directors in Rooftop Ltd., 5 are Indian Nationals, 3 are Foreign Residents and one is a person of Indian origin. The articles of the company stipulate that the quorum for a board meeting shall be 5 directors of which at least one director shall be a foreign resident. Referring to the provisions of the Companies Act, 2013, examine the validity of the above provisions in the articles. (December 2016) (4 marks)
Answer:
1. The quorum for Meetings of Board [Section 174(1)]:
One-third of total strength or two directors, whichever is higher, shall be the quorum for a meeting.
The articles of association of the company may provide for a higher Quorum.

2. Presence of Quorum throughout the meeting:
A quorum shall be present not only at the time of commencement of the Meeting but also while transacting business. A director shall not be reckoned for quorum in respect of an item in which he is interested and he shall not be present, whether physically or through electronic mode, during discussions and voting on such item.

The Act lays down only the minimum number to form a quorum, a company by its articles can provide for a higher number of quorum – AmritKaur Puri v. Kapurthala Flour, Oil & General Mills Co. (P.) Ltd. [1984] 56 Comp Cas 194 (P & H)

3. As per the given case, Out of 9 directors in Rooftop Ltd., 5 are Indian Nationals, 3 are Foreign Residents and one is a person of Indian origin. The articles of the company stipulate that the quorum for a board meeting shall be 5 directors of which at least one director shall be a foreign resident.

Hence, the provisions contained in the article of association of Rooftop Ltd. are valid as per the provisions of the Companies Act, 2013.

Question 4.
What do you understand by the expression ‘resolution by circulation? List out four matters which cannot be passed by the directors by resolution by circulation. (June 2013) (4 marks)
Answer:
1. Passing of Resolution by Circulation: Section 175 of the Companies Act, 2013:
A company may pass the resolutions through circulation. The resolution in the draft form together with the necessary papers may be circulated to all the directors or members of the committee at their address registered with the company in India by hand or by speed post or by courier or through electronic means which may include e-mail or fax.

Further SS-1, requires that each business proposed to be passed by way of resolution by circulation shall be explained by a note setting out details of the proposal, relevant material facts that enable the directors to understand the meaning, scope, and implications of the proposal, the nature of concern or interest, if any, of any director in the proposal, which the director had earlier disclosed and the draft of the resolution proposed

2. Four matters which cannot be passed by the directors by resolution by circulation:

  • To fill a casual vacancy that occurred in the Board. [Section 161(4)]
  • Power to issue debentures. [Section 179(l)(c)]
  • Power to make loans [Section 179(l)(f)]
  • Power to invest the funds of the Company.[Section 179(l)(e)]

Question 5.
A director insists that his note of dissent be recorded in the minutes of the board meeting which he attended and did not agree to some of the points of the agenda. (December 2016) (5 marks)
Answer:
1. As per Section 118 of the Companies Act, 2013, In case of a meeting of Board of Directors or of a committee of Board, the minutes shall contain the name of the directors present and also the name of the dissenting director or a director who has not concurred with the resolution.

2. The chairman shall exercise his absolute discretion in respect of inclusion or non-inclusion of the matters which is regarded as defamatory of any person, irrelevant, or detrimental to the company’s interest in the minutes.

3. Minutes kept shall be evidence of the proceedings recorded in a meeting and containing a fair and correct summary of the proceeding thereat.

Thus, the contention of the director is correct, and noting of dissent must be recorded in the Minutes of the Board Meeting.

Question 6.
The board of directors of a company met thrice in the year 2015 and the fourth meeting was not held for want of quorum. As a Company Secretary, examine the provisions of the Companies Act, 2013 and decide with reasons whether the company has complied with the requirements of meetings to be held in a calendar year or violated the requirements thereof? (December 2013) (4 marks)
Answer:

  1. In terms of the provisions of Section 173(1), every company shall hold a minimum of 4 meetings of its Board of directors every year.
  2. The gap between the two board meetings should not be more than 120 days.
  3. If the gap between 1st & 2nd, 3rd & 4th meetings is not more than 120 days in such case no default is there.
  4. In the given case, the board of directors of a company met thrice in the year 2015 and the fourth meeting was not held for want of quorum.

Thus, the violation of the provisions of Section 173(1) of the Companies Act, 2013 in the given case.

Question 7.
The Board of directors of Ash Ltd. having its registered office in New Delhi decides to hold its next meeting in New York, the USA since all the directors of the company are going to attend a sales exhibition to be held in New York. Examining the provisions of the Companies Act, 2013, advise the board about the validity of its decision to hold the Board meeting in New York. (June 2016) (4 marks)
Answer:

  1. In accordance with Section 96(2), an annual general meeting can be called during business hours, that is, between 9 am and 6 pm on any day that is not a National Holiday.
  2. No similar provision for holding a Board Meeting is in place.
  3. The meeting of the board of directors may be held at any place even abroad convenient to the directors outside business hours and even on a national holiday unless the articles provide otherwise.

Hence, the Meeting of the Board of Ash Ltd. may be held at any place convenient to the directors even outside India and even on a national holiday unless the articles provide otherwise.

Question 8.
A meeting of the Board of directors was scheduled to take place at the factory premises of a company and not at the registered office. At the scheduled date and time, the required quorum was not present. The chairman of the meeting announced that the meeting is dissolved. (December 2016) (5 marks)
Answer:
1. In accordance with Section 96(2), an annual general meeting can be called during business hours, that is, between 9 am and 6 pm on any day that is not a National Holiday.

2. No similar provision for holding a Board Meeting is in place.

3. The meeting of the board of directors may be held at any place even abroad convenient to the directors outside business hours and even on a national holiday unless the articles provide otherwise.

Thus, the meeting of the Board of directors can be held at factory prem¬ises and it is not necessary that it should be held at the registered office of the Company.

4. If the Quorum is not present: as per Section 174(4) of the Companies Act, 2013:
Where the meeting of the Board could not be held for want of Quorum, then, unless the articles of the Company otherwise provide, the meeting shall automatically stand adjourned to the same day at the same time and place in the next week or if that day is a national holiday, till the next succeeding day, which is not a national holiday, at the same time and place.

Thus, the contention of the chairman that the meeting is dissolved due to the want of quorum is not correct. If a quorum is not present the meeting shall automatically stand adjourned to the same day at the same time and place in the next week or if that day is a national, till the next succeeding day which is not a national holiday at the same time and place.

Question 9.
As the Company Secretary of Joy Ltd., what step would you take in case the scheduled Board meeting could not complete the agenda slated thereat? The items of business left and un-transacted is of extreme importance for the company’s growth and the same cannot be deferred until the next Board meeting because of urgency. Advise the Board about the steps to be taken to get the un-transacted items passed. (December 2015) (4 marks)
Answer:
If the items of business left un-transacted in Board Meeting are of extreme importance for the company, then as Company secretary following actions can be taken:
1. The meeting can be adjourned by the Chairman and such adjourned meeting can be held on the next day or some other day to complete the items left un-transacted.

2. The company can also pass the resolution by circulation for the items left un-transacted if passing by circular resolution on a subject is not specifically prohibited under the Companies Act, 2013.

3. The Company can also avail the option of holding of board Meeting through video conferencing as provided under Section 173(2) of the Companies Act, 2013.

Question 10.
Articles of Reality Ltd. provides that directors participating through audio-visual means in its Board meetings shall always be counted for quorum. Examine the validity of this provision with reference to the Companies Act, 2013. (December 2018) (5 marks)
Answer:
1. In accordance with the provisions of Section 173(2) of the Companies Act, 2013:
The participation of directors in a meeting of the board may be either in person (personally present) or through video conferencing or other audio-visual means.

2. As per Section 174 of the Companies Act, 2013, provides that the participation of directors by video conferencing or by other audiovisual means shall also be counted for the purposes of quorum.

In accordance with provisions of sections 173 and 174 of the Companies Act, the 2013 provision contained in the article of the reality Limited is valid.

Question 11.
Logical Solutions Ltd., a listed company, is having a Corporate Social Responsibility (CSR) committee constituted with the following members: Rohan — Whole-time director & Chairman of CSR committee and Board Sohan — Non-executive director Mohan — Independent director
Can the company constitute a Nomination and Remuneration Committee consisting of the same three members of the CSR committee with the same composition? Discuss. (December 2018) (5 marks)
Answer:
1. As per Section 135(1) of the Companies Act, 2013:
Every company to home the provisions of CSR applicable shall constitute CSR committee of the board consisting of 3 or more directors out of which at least one director shall be an independent director.

2. As per Section 178 (1) of the Companies Act, 2013:
The board of directors of every listed public company and other pre-scribed classes of companies (as defined in relevant rules) shall constitute the nomination and remuneration committee consisting of 3 or more non-executive directors out of which not less than one half shall be independent directors.

3. The Chairperson of the company may be appointed as a member of the nomination and remuneration committee but shall not chair such committee.
As per the above-discussed provisions, the two committees requires different composition.

Hence, Logical Solutions Limited cannot constitute a Nomination & Remuneration Committee consisting of the same 3 members as of the Corporate Social Responsibility Committee with the same composition.

Question 12.
A Board meeting of a listed public company was called at shorter notice to transact an urgent business. None of the Independent directors could attend the meeting. Examine the validity of resolution(s) passed at the meeting referring to the provisions of the Companies Act, 2013 (December 2018) (4 marks)
Answer:
1. As per Section 173(3) of the Companies Act, 2013, a meeting of the board may be called at shorter notice to transact urgent business subject to the condition that at least one independent director if any shall be present at the meeting.

2. However, in case of the absence of independent directors from such a meet¬ing of the board, decisions taken at such a meeting shall be circulated to all the directors and shall be final only on ratification thereof by at least one independent director, if any

3. In the given case, A Board meeting of a listed public company was called at shorter notice to transact an urgent business. None of the Independent directors could attend the meeting.

Thus, decisions taken at such meetings shall be circulated to all directors and shall be final only on ratification thereof by at least one independent director of the Listed public company.

Question 13.
Prepare an Agenda item for a Board Meeting with a minimum of eight items to be discussed. (June 2019) (5 marks)
Answer:
Agenda for Second Board Meeting of Financial Year 2018-2019 of the XYZ Ltd. to be held on Saturday, 08-06-2019 at 11 a.m. at Registered Office:

  1. To grant leave of absence, if any, to the Director.
  2. To take note of minutes of the preceding Board Meeting.
  3. To take note of the resolution passed by circulation since the last meeting.
  4. To approve draft annual accounts for the financial year ended 31st March 2019.
  5. To approve auditors’ reports for the financial year ended 31st March 2019.
  6. To approve directors’ reports for the financial year ended 31st March 2019.
  7. The authorized directors, CFO, and Company Secretary of the Company to sign Annual Return of the Company for the financial year ended 31st March 2019.
  8. To consider issuance of Notice for calling of Annual General Meeting the financial year ended 31st March 2019.
  9. To consider other items, if any, with the permission of the Chairman.

Question 14.
State the situations under which a company is required to constitute the Audit Committee? (June 2019) (4 marks)
Answer:
1. Under section 177(1) of the Companies Act, 2013, the Board of Directors of every listed public company and such other class or classes of Companies, as may be prescribed, shall constitute an Audit Committee.

2. As per Rule 6 of the Companies (Meeting of Board & its Powers) Rules, 2014, the Board of directors of every listed public company and the following classes of Companies shall constitute an Audit Committee and a Nomination and Remuneration Committee of the Board:

  • All public companies with a paid-up capital of Rs. 10 Crore or more;
  • All public companies having a turnover of Rs. 100 Crore or more;
  • All public companies, having in aggregate, outstanding loans or borrowings or debentures or deposits exceeding Rs. 50 Crore or more.

The Paid-up share capital or turnover or outstanding loans, or borrowings or debentures or deposits, as the case may be, as existing on the date of last audited Financial Statements shall be taken into account.

Question 15.
T Ltd. a listed company has INR 20 crore paid-up share capital and has nine directors on its Board. Advise T Ltd. on the following matters:
1. The number of independent directors it should appoint on its board.
Answer:
As per Rule 4 of the Companies (Appointment & Qualifications of Directors) Rules, 2014, following Class or Classes of Companies shall have at least 2 Directors as independent directors-

  • All public companies with a paid-up capital of Rs. 10 Crore or More;
  • All public companies having a turnover of Rs. 100 Crore or more;
  • All public companies, having in aggregate, outstanding loans or borrowing or debentures or deposits exceeding Rs. 50 Crore or more.

The paid-up capital of T Ltd. is more than Rs. 10 Crore and hence it should appoint at least two directors as independent directors.

2. How many independent directors should be appointed by T Ltd. in case it is an “unlisted public company”?
Answer:
As per Rule 4 of the Companies (Appointment & Qualifications of Directors) Rules, 2014, use the word “all companies” and hence even an unlisted company is required to appoint independent directors in its Board. However, as per Rule 4(2), the following classes of an unlisted public company shall not be covered under Rule 4(1), namely:

  • a joint venture;
  • a wholly-owned subsidiary; and
  • a dormant company as defined u/s 455 of the Act.

Thus, if T Ltd. belongs to a class of company as stated in Rule 4(2) of said rules, it is not required to appoint independent directors.

3. Can T Ltd. appoint an independent director for a second consecutive term of 6 years whose first term, as an independent director in T Ltd. was for 4 years?
Answer:
As per Section 149, an independent director shall hold office for a term up to 5 consecutive years on the Board of a Company. Such director shall be eligible for re-appointment on the passing of a special resolution by the company and disclosure of such appointment in the Board’s Report. No independent director shall hold office for more than 2 consecutive terms. An independent director shall be eligible for appointment after the expiration of three years of ceasing to become an independent director.

In the given case, T Ltd. appoints an independent director for a second consecutive term of 6 years whose first term, as an independent director in T Ltd. was for 4 years.

Thus, T Ltd. cannot appoint an independent director for a second consecutive term of 6 years. However, such a director can be appointed as an independent director for a second consecutive term of 5 years.

4. T Ltd. wants to appoint another independent director for a further period of 2 years. He has already completed 2 consecutive tenures of 4 years each as an independent director in T Ltd.? (June 2019) (4 marks)
Answer:
In the given case, T Ltd. wants to appoint another independent director for a further period of 2 years. He has already completed 2 consecutive tenures of 4 years each as an independent director in T Ltd.

In light of the provisions of Section 149 of the Companies Act, 2013, as discussed above in Point (iii), T Ltd. cannot appoint the same person as an independent director who has already hold office for more than two consecutive terms.

Thus, Ltd. cannot appoint further for Two Years.

CS Executive Company Law Questions and Answers

Introduction to Corporate Accounting – Corporate and Management Accounting MCQ

Introduction to Corporate Accounting – Corporate and Management Accounting MCQ

Students should practice Introduction to Corporate Accounting – Corporate and Management Accounting CS Executive MCQ Questions with Answers based on the latest syllabus.

Introduction to Corporate Accounting – Corporate and Management Accounting MCQ

Question 1.
An asset shall be classified as current:
(A) If it is held primarily for the purpose of being traded.
(B) If it is not possible to classify such an asset as a non-current asset.
(C) If for the asset normal operating cycle cannot be identified.
(D) If such asset is expected to be realized twelve months after the reporting date.
Answer:
(A) If it is held primarily for the purpose of being traded.

Question 2.
A copy of the financial statements, including consolidated financial statement, along with all the documents attached to financial statements, duly adopted at the AGM, shall be filed with the Registrar within_____of the date of AGM in a prescribed manner along with prescribed fees.
(A) 10 days
(B) 30 days
(C) 60 days
(D) 90 days
Answer:
(B) 30 days

Question 3.
As per Schedule HI of the Companies Act, 2013, where the normal operating cycle cannot be identified, it is assumed to have a duration of –
(A) 3 months
(B) 6 months
(C) 9 months
(D) 12 months
Answer:
(D) 12 months

Question 4.
As per Rule 12 of the Companies (Accounts) Rules, 2014, a financial statement shall be filed in_____which should be pre-certified by Practicing CA.
(A) Form AOC-3
(B) Form AOC-4
(C) Form AOC-5
(D) Form AOC-6
Answer:
(B) Form AOC-4

Question 5.
Liability shall be classified as current when it satisfies any of the following criteria:
(A) It is expected to be settled in the company’s normal operating cycle.
(B) It is due to be settled within twelve months after the reporting date
(C) The company does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
(D) All of the above
Answer:
(D) All of the above

Question 6.
OPC shall file a copy of the financial statements duly adopted by its member, along with all the documents which are required to be attached to such financial statements, within_____from the closure of the financial year.
(A) 30 days
(B) 60 days
(C) 120 days
(D) 180 days
Answer:
(D) 180 days

Question 7.
Which of the following is required to be disclosed in notes to accounts in respect of ‘Share Capital?
(A) A reconciliation of the number of shares outstanding at the beginning and at the end of the reporting period
(B) Aggregate number and class of shares bought back
(C) Shares in the company held by each shareholder holding more than 5%.
(D) All of the above
Answer:
(D) All of the above

Question 8.
As per Rule 3 of the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2015, all companies having_____has to file their Balance Sheet, Profit & Loss A/c, and other documents with the Registrar using the Extensible Business Reporting Language (XBRL).
(A) Issued capital of ₹ 5 Crore or above
(B) Authorized capital of more than ₹ 10 Crore
(C) Paid-up capital of ₹ 5 Crore or above
(D) Subscribed capital of ₹ 25 Crore or above
Answer:
(C) Paid-up capital of ₹ 5 Crore or above

Question 9.
Which of the following appears under the heading ‘Reserves & Surplus’ in the balance sheet?
(A) Share Options Outstanding Ac-count
(B) Share Application Money Pending Allotment
(C) Long Term Provisions
(D) Secrete Reserves
Answer:
(A) Share Options Outstanding Ac-count

Question 10.
As per Schedule in of the Companies Act, 2013, a Company shall disclose by way of notes additional information regarding aggregate expenditure and income in relation to any item of income or expenditure which exceeds:
(A) 0.5% of the revenue from operations
(B) ₹ 10,000
(C) 1% of the revenue from operations ₹ 1,00,000, whichever is higher
(D) 0.5% of the revenue from operations ₹ 10,000, whichever is less.
Answer:
(C) 1% of the revenue from operations ₹ 1,00,000, whichever is higher

Question 11.
As per Rule 3 of the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2015, all companies having turnover of_____has to file their Balance Sheet, Profit & Loss A/c, and other documents with the Registrar using the Extensible Business Reporting Language (XBRL)
(A) ₹ 50 Crore or above
(B) ₹ 100 Crore or above
(C) ₹ 250 Crore or above
(D) ₹ 500 Crore or above
Answer:
(B) ₹ 100 Crore or above

Question 12.
As per Section 128 of the Companies Act, 2013, every company shall prepare and keep at its_____books of account and other relevant books and papers and financial statement for every financial year,
(A) Corporate Office
(B) Registered Office
(C) Corporate Office or Registered Office
(D) Head Office
Answer:
(B) Registered Office

Question 13.
Which of the following will be shown in the balance sheet under the heading ‘cash and cash equivalents?
(A) Earmarked balances with banks
(B) Bank deposits with more than twelve months of maturity
(C) Cheques, drafts on hand
(D) All of the above
Answer:
(D) All of the above

Question 14.
Which of the following type of companies is required to file their accounts in Extensible Business Reporting Language (XBRL) format?
(A) Banking companies
(B) Insurance companies
(C) Non-Banking Financial companies
(D) None of the above
Answer:
(D) None of the above

Question 15.
The declared dividend must be paid within_____of declaration.
(A) 5 days
(B) 10 days
(C) 30 days
(D) 60 days
Answer:
(C) 30 days

Question 16.
Retained earnings are –
(A) An indication of a company’s liquidity.
(B) The same as cash in the bank.
(C) Not important when determining dividends.
(D) The cumulative earnings of the company after dividends.
Answer:
(D) The cumulative earnings of the company after dividends.

Question 17.
Which of the following type of companies is required to file their accounts in Extensible Business Reporting Language (XBRL) format?
(I) Subsidiary of Indian Listed Company
(II) Companies that are required to prepare their financial statements in accordance with the Companies (Indian Accounting Standards) Rules, 2015
(III) Private company having turnover of ₹ 99 Crore.
(IV) Public companies having paid-up capital of ₹ 3 Crore.
Select the correct answer from the options given below –
(A) (I) & (II)
(B) (II) & (IV)
(C) (II) & (III)
(D) (I), (II) & (III)
Answer:
(A) (I) & (II)

Question 18.
The primary goal of a publicly-owned firm interested in serving its stockholders should be too:
(A) Maximize expected total corporate profit
(B) Maximize expected EPS
(C) Maximize the stock price per share
(D) Maximize expected net income.
Answer:
(C) Maximize the stock price per share

Question 19.
In the real world, we find that dividends –
(A) Usually exhibit greater stability than earnings.
(B) Fluctuate more widely than earnings
(C) Tend to be a lower percentage of earnings for mature firms
(D) Are usually set as a fixed percentage of earnings
Answer:
(A) Usually exhibit greater stability than earnings.

Question 20.
Which of the following statement is correct?
(A) A company may, if so authorized by its articles, pay dividends in proportion to the amount paid upon each share.
(B) Dividend cannot be paid on calls- in advance.
(C) All the provisions of the Companies Act, 2013 that are applicable to the final dividend are also applicable to the interim dividend.
(D) All of the above
Answer:
(D) All of the above

Question 21.
As per the provisions of the Companies Act, 2013, the amount of the dividend, including interim dividend, shall be deposited in a scheduled bank in a separate account within_____from the date of declaration of such dividend.
(A) 30 days
(B) 15 days
(C) 10 days
(D) 5 days
Answer:
(D) 5 days

Question 22.
After the declaration of the dividend, the company has to pay dividends within_____of declaration of dividend. If the amount of dividend remains unpaid or unclaimed for 30 days of declaration of dividend, then in next_____the company has to transfer the amount unclaimed to a special account in any scheduled bank to be called the “Unpaid Dividend Account”.
(A) 5 days; 5 days
(B) 30 days; 7 days
(C) 30 days; 5 days
(D) 10 days; 7 days
Answer:
(B) 30 days; 7 days

Question 23.
In the Balance Sheet, Corporate Dividend Tax will be shown as a liability under the heading –
(A) Current Liabilities
(B) Non-Current Liabilities
(C) Tax Liabilities
(D) Deferred Liabilities
Answer:
(A) Current Liabilities

Question 24.
Any money transferred to the unpaid dividend account of a company that remains unpaid or unclaimed for a period of_____from the date of such transfer must be transferred by the company to Investor Education and Protection Fund
(A) 3 years
(B) 5 years
(C) 7 years
(D) 10 years
Answer:
(C) 7 years

Question 25.
A Company has a paid-up equity share capital of ₹ 37,50,000 (of ₹ 10 each) and 11% preference share capital of ₹ 12,50,000 (of ₹ 100 each). The balance of profit brought forward from the previous Balance Sheet was ₹ 95,000. Profit for the year ended on 31.3.2018 amounted to ₹ 14,50,000 after tax. The directors proposed a dividend of 24% on equity share capital, after the following provisions:
(i) Transfer 10% of current profits to general reserves.
(ii) Provision of dividend on preference shares
Assume corporate dividend tax rate 17%. Closing balance of Profit & Loss A/c will be –
(A) ₹ 1,86,125
(B) ₹ 3,62,500
(C) ₹ 2,48,350
(D) ₹ 1,75,425
Hint:
Dr. Profit and Loss Appropriation A/c for the year ended 31.3.2018 Cr.
Introduction to Corporate Accounting – Corporate and Management Accounting MCQ 2
Answer:
(A) ₹ 1,86,125

Question 26.
Trial Balance of Complex Ltd., as of 31.3.2019 shows the following item:
Introduction to Corporate Accounting – Corporate and Management Accounting MCQ 1
(1) Advance payment of income tax includes ₹ 35,000 for 2017-20 18.
(2) Actual tax liability for 2017-2018 amounts to ₹ 3 8,000 and no effect for the same has so far be given in accounts.
(3) Provision for income tax has to be made for 2018-2019 for ₹ 40,000.
You are required to calculate:
(a) Liability for taxation for last year ie. 2017-2018;
(b) Extra provision to be made in the current year for last year.
(A) ₹ 8,000; ₹ 3,000
(B) ₹ 5,000; ₹ 12,000
(C) ₹ 3,000; ₹ 8,000
(D) ₹ 12,000; ₹ 5,000
Hint:

Adjustment for advance tax
Assessment finalized for last year 38.000
Advance tax paid for last year 35.0
Tax to be paid 3,000
Adjustment for provision for tax
Assessment finalized for last year 38.000
Provision for tax made for last year 30.000
Extra provision to be made for last year 8,000

Answer:
(C) ₹ 3,000; ₹ 8,000

Question 27.
A company had made provision for tax ₹ 70,000 for last year. Actual tax liability for the last financial year settled at ₹ 68,000. It had paid advance tax for last year ₹ 65,000. Which of the following statement is correct in relation to tax treatment in accounts of the company?
(A) Liability for taxation for the last year is ₹ 3,000
(B) Provision to write back for the last year ₹ 2,000
(C) Adjustment entry is required to be passed in the current year by debiting Provision for Tax A/c and crediting Advance Income Tax A/c ₹ 65,000.
(D) All of the above are correct.
Hint:

Adjustment for advance tax
Assessment finalized for last year 68,000
Advance tax paid for last year 65,000
Tax to be paid 3,000
Adjustment for provision for tax
Assessment finalized for last year 68,000
Provision for tax made for last year 70,000
Provision to write back for the last year 2,000

Answer:
(D) All of the above are correct.

Question 28.
Yash Ltd. has only one type of capital, viz. 40,000 equity shares of ₹ 100 each. It also has got reserves totaling ₹ 20,00,000. The company closes its books on 31st March each year. It has paid dividends @ 15% up to 2015-2016 and 20% thereafter. In 2018-2019, the company suffered a loss of ₹ 2,50,000; therefore, it wishes to draw the required amount out of the reserves to pay the dividend at 12%. As the Companies (Declaration of Dividend Out of Reserves) Rules, 2014 how much maximum percentage of dividend can be paid by the company out of reserves.
(A) 12%
(B) 10%
(C) 8.75%
(D) 6.55%
Hint:
Dividends can be declared out of past years’ profits transferred to reserves. In this case, the company has to comply with the Companies (Declaration of Dividend Out of Reserves) Rules, 2014. It lay down the following conditions subject to which a dividend may be declared by a company in the event of inadequacy or absence of profits in any year out of the profits earned by it in previous years and transferred to reserves.
1. The rate of dividend declared shall not exceed the average of the rates at which the dividend was declared by it in the 3 years immediately preceding that year.
Introduction to Corporate Accounting – Corporate and Management Accounting MCQ 3
Average rate of dividend = 55/3 = 18.33%
So, an 18.33% dividend can be paid in the first instance.
Amount required for dividend at 18.33% = 40,00,000 × 18.33% = ₹ 7,33,200.

2. The total amount to be drawn from such accumulated profits shall not exceed 1/10th of the sum of its paid-up share capital and free reserves as appearing in the latest audited financial statement.
1/10th of (Paid up capital + Free Reserve) = (40,00,000 + 20,00,000) × 1/10 = 6,00,000.
Thus, the above amount in condition (1) will be restricted to ₹ 6,00,000.

3. The amount is so drawn shall first be utilized to set off the losses incurred in the financial year in which a dividend is declared before any dividend in respect of equity shares is declared.

Total amount to be drawn from such accumulated profits 6,00,000
(-) Losses incurred (2,50,000)
(-) Preference dividend
The amount that can be drawn,n from accumulated profits 3,50,000

So, rate of dividend = 3,50,000/40,00,000 × 100 = 8.75%

4. The balance of reserves after such withdrawal shall not fall below 15% of its paid-up share capital as appearing in the latest audited financial statement.

Reserves 20,00,000
The amount that can be drawn from accumulated profits (3,50,000)
Balance of reserve 16,50,000

Paid-up capital × 15% = 40,00,000 × 15% = 6,00,000
As balance of reserve i.e. 16,50,000 is more than 6,00,000. This condition is fulfilled.
So, the rate of dividend can be 8.75%.
Answer:
(C) 8.75%

Question 29.
Due to paucity of profits, MUSKAT LTD. an Indian company proposes to declare dividends out of its general reserves.
10% pref. shares (₹ 100 each): ₹ 10,00,000
Equity shares (₹ 100 each): ₹ 30,00,000
General reserve: ₹ 8,00,000
Securities premium: ₹ 2,00,000
Credit balance of P & L A/c: ₹20,000
Net profit for the year (after tax): ₹ 1,80,000
Average dividend for last 3 years: 15%
As the Companies (Declaration of Dividend Out of Reserves) Rules, 2014 how much maximum percentage of dividend can be paid by the company out of reserves.
(A) 10%
(B) 8%
(C) 12%
(D) 15%
Hint:
Dividends can be declared out of past years’ profits transferred to reserves. In this case, the company has to comply with the Companies (Declaration & Payment of Dividend) Rules, 2014. It lay down the following conditions subject to which a dividend may be declared by a company in the event of inadequacy or absence of profits in any year out of the profits earned by it in previous years and transferred to Reserves.

  1. The rate of dividend should not exceed the average rate of a dividend of the last 3 years:
  2. The total amount to be drawn from the accumulated profits = up to 1 /10th of the sum of the paid-up capital and free reserves of the company. The amount so drawn shall first be utilized to set off the losses incurred in the financial year before any dividend in respect of preference or equity shares is declared.
  3. The balance of reserves after such draw shall not fall below 15% of the paid-up share capital of the company.

Condition 1:
Average rates of dividend i.e. 15%
So 15% dividend can be paid at first instance.

Condition 2:

1 /10th of (Paid up capital + Free Reserve) (40,00,000 + 10,00,000) × 1 /10 5,00,000
(-) Losses incurred in past
(-) Preference dividend (1,00,000)
The amount that can be drawn from accumulated profits 4,00,000

So, rate of dividend = 4,00,000/40,00,000 × 100 = 10%

Condition 3: The balance of reserves after such draw shall not fall below 15% of the paid-up share capital of the company.

Balance of reserve 10,00,000
The amount that can be drawn from accumulated profits (4,00,000)
6,00,000

Paid-up capital × 15% = 40,00,000 × 15% = 6,00,000. As balance of reserve is not less than ₹ 6,00,000, this condition is fulfilled. So rate of dividend can be 10%.
Answer:
(A) 10%

Question 30.
The paid-up capital of Apsara Ltd. consisted of ₹ 5,00,000 equity shares of ₹ 10 each and 50,000, 8% preference shares of ₹ 100 each. The statement of profit and loss of the company for the year ended 31.3.2019 showed a net profit before tax of ₹ 20,00,000. Net profit brought forward from the previous year’s balance sheet amounted to ₹ 6,00,000. The company makes a provision of 40% for income tax. Following appropriations were proposed by the company:
(a) To pay final dividend @ ₹ 1.50 per share to equity shareholders.
(b) To transfer 5% of net profit to general reserve.
Assume corporate dividend tax rate 17%. Closing balance of Profit & Loss A/c will be:
(A) ₹ 3,94,500
(B) ₹ 2,94,500
(C) ₹ 4,94,500
(D) ₹ 1,94,500
Hint:
Dr. Profit & Loss Appropriation A/c Cr.
Introduction to Corporate Accounting – Corporate and Management Accounting MCQ 4
Answer:
(A) ₹ 3,94,500

Basic Concepts – CS Executive Tax Laws MCQs

Basic Concepts – CS Executive Tax Laws MCQs

Students should practice Basic Concepts – CS Executive Tax Laws MCQ Questions with Answers based on the latest syllabus.

Basic Concepts – CS Executive Tax Laws MCQ Questions

Question 1.
As per Section 2(31) of the Income-tax Act, 1961, the following is not included in the definition of ‘person’:
(A) An individual
(B) A Hindu undivided family
(C) A company
(D) A minor [Dec. 2014]
Answer:
(D) A minor

Question 2.
Tax exemption limit for a resident senior citizen having age below 80 years is (between 60 to 80 yrs.):
(A) Up to 7 2,00,000
(B) Up to 7 5,00,000
(C) Up to 7 1,80,000
(D) Up to 7 3,00,000 [Dec. 2014]
Answer:
(D) Up to 7 3,00,000

Question 3.
AB & Co. received 7 2,00,000 as compensation from CD & Co. for premature termination of the contract of the agency. The amount so received is
(A) Capital receipt and taxable
(B) Capital receipt and not taxable
(C) Revenue receipt and taxable
(D) Revenue receipt and not taxable [Dec. 2014]
Answer:
(C) Revenue receipt and taxable

Question 4.
For a domestic company whose turnover never been above ₹ 400 Crore, the minimum amount of total income liable for a surcharge and the rate of surcharge applicable therein are:
(A) ₹ 10 Crore and 10% respectively
(B) ₹ 1 Crore and 7% respectively
(C) ₹ 1 Crore and 12% respectively
(D) ₹ 10 Crore and 5% respectively [Dec. 2014]
Answer:
(B) ₹ 1 Crore and 7% respectively

Question 5.
According to Section 2(24) definition of ‘income’ is:
(A) Inclusive
(B) Exhaustive
(C) Exclusive
(D) Descriptive [Dec. 2014]
Answer:
(A) Inclusive

Question 6.
An assessee, being an individual resident in India, is entitled to a deduction, from the amount of income tax on his total income which is chargeable for an assessment year, of an amount equal to 100% of such income tax or a lesser amount. The maximum amount of total income qualifying for such deduction and the maximum amount of deduction so available is:
(A) ₹ 5 lakh and ₹ 12,500 respectively
(B) ₹ 3.5 lakh and ₹ 2,500 respectively
(C) ₹ 5 lakh and ₹ 7,500 respectively
(D) ₹ 3.5 lakh and ₹ 5,000 respectively [Dec. 2014]
Answer:
(A) ₹ 5 lakh and ₹ 12,500 respectively

Question 7.
The year in which the income is earned is known as:
(A) Previous year
(B) Financial year
(C) Both (A) and (B)
(D) None of the above [June 2015]
Answer:
(A) Previous year

Question 8.
For the AY2021 -2022, taxable income of A Ltd., a Domestic Manufacturing Company claiming benefit of Section 115BAB is ₹ 10,86,920. Its tax liability would be:
(A) ₹ 2,79,880
(B) ₹ 2,82,600
(C) ₹ 3,35,860
(D) ₹ 1,69,560 [June 2015]
Hint:
Income tax slab rates from AY 2020-2021 for domestic manufacturing company which is a New Company u/s 115BAB is 15%.

Tax on total income (10,86,920 × 15%) 1,63,038
(+) Education cess @ 4% 6,522
Net tax payable 1,69,560

Answer:
(D) ₹ 1,69,560

Question 9.
The total income of Atul, a resident individual, is ₹ 4,90,000. The rebate allowable u/s 87A would be:
(A) ₹ 2,500
(B) Nil
(C) ₹ 12,000
(D) ₹ 12,500 [June 2015]
Hint:
As per Section, 87A rebate is ₹ 12,500 or tax payable if total income does not exceed ₹ 5,00,000. As the income of Atul is ₹ 4,90,000, he can claim a rebate at ₹ 12,000:
Answer:
(C) ₹ 12,000

Question 10.
‘Income’ u/s 2(24) includes:
(i) The profits and gains of a banking business carried on by a cooperative society with its members.
(ii) Any advance money forfeited in the course of negotiations for the transfer of capital asset.
Choose the correct option with reference to the above statements:
(A) Both (i) and (ii)
(B) Only (i)
(C) Only (ii)
(D) Neither (i) nor (ii) [June 2015]
Answer:
(A) Both (i) and (ii)

Question 11.
alit, a resident individual of 81 years works as a consultant. If his taxable income is ? 5,20,000, the tax payable by him would be:
(A) ₹ 22,660
(B) ₹ 4,120
(C) ₹ 2,080
(D) ₹ 4,160 [June 2015]
Hint:

On first 5,00,000 Nil
On next 20,000 @ 20% 4,000
(+) Education cess @ 4% 4,000
160
Net tax 4,160

Answer:
(D) ₹ 4,160

Question 12.
A new business was set up on 1st July 2020 and trading activity was commenced from 1st September 2020, the previous year would be the period commencing from:
(A) 1st April 2020 to 31st March 2021
(B) 1st July 2020 to 31st March 2021
(C) 1st September 2020 to 31st March 2021
(D) 1st October 2020 to 31st March 2021 [Dec 2015]
Answer:
(B) 1st July 2020 to 31st March 2021

Question 13.
X Marine Lines Inc., a Singapore company engaged in shipping business collected ₹ 150 lakhs towards carrying goods from Chennai Port. Its presumptive income chargeable to tax in India would be:
(A) ₹ 15 lakh
(B) ₹ 11.25 lakh
(C) ₹ 12 lakh
(D) Nil [Dec. 2015]
Hint:
150 lakh × 7.5% = 11.25 lakh
Answer:
(B) ₹ 11.25 lakh

Question 14.
HSK, an LLP had taken keyman insurance policy on the life of its managing partner. The policy got matured on 13th September 2020 and an amount of ₹ 75 lakh was paid by the insurers to the managing partner. The amount so received on maturity of the policy by the managing partner is:
(A) Fully exempt u/s 10 (10D)
(B) 50% of ₹ 75 lakh exempt
(C) ₹ 75 lakh taxable
(D) ₹ 25 lakh exempt and ₹ 50 lakh taxable. [Dec. 2015]
Answer:
(C) ₹ 75 lakh taxable

Question 15.
Raghu traced a missing girl by spending ₹ 20,000. For this, he was awarded a sum of ₹ 1,20,000; In this case, the award is taxable to the extent of:
(A) ₹ 1,00,000
(B) ₹ 1,20,000
(C) ₹ 1,15,000
(D) Nil [June 2016]
Answer:
(B) ₹ 1,20,000

Question 16.
Raman & Co., a partnership firm, received ₹ 5,00,000 from an insurance company under the keyman insurance policy consequent to the demise of partner Pramod. The amount of premium ₹ 2,30,000 paid earlier was claimed as a deduction under Section 37 by the firm. The amount received from the insurance company is:
(A) Tax-free under section 10(10D)
(B) Fully-taxable as income
(C) ₹ 2,70,000 is taxable
(D) ₹ 2,30,000 is taxable [June 2016]
Answer:
(B) Fully-taxable as income

Question 17.
Metro Ltd., a domestic company, is assessed with a total income of ₹ 11.25 Crore. The surcharge payable by the company shall be at the rate of:
(A) 2%
(B) 596
(C) 1096
(D) 1296 [June 2016]
Answer:
(D) 1296

Question 18.
Dr. Ashok commenced medical practice on 1st September 2020. The previous year for the profession for the assessment year 2021-2022 would be
(A) 1st April 2020 to 31st March 2021
(B) 1st September 2020 to 31st March 2021
(C) 1st June 2020 to 31st March 2021
(D) 1st September 2020 to 31st January 2021 [June 2016]
Answer:
(B) 1st September 2020 to 31st March 2021

Question 19.
Under the Income-tax Act, 1961 the term ‘assessee’ means a person:
(A) Who is an assessee in default
(B) From whom tax is due
(C) Against whom any proceeding under the Act has been taken
(D) All of the above [Dec. 2016]
Answer:
(D) All of the above

Question 20.
Normal rates of income tax are prescribed in the:
(A) Income-tax Act, 1961
(B) Income-tax Rules, 1962
(C) Finance Act of the current year
(D) CBDT circulars [Dec. 2016]
Answer:
(C) Finance Act of the current year

Question 21.
Arul Industries got a waiver of Goods & Services Tax (GST) of ₹ 2,20,000 for the current financial year. The amount of waiver is
(A) Exempt income
(B) Capital receipt
(C) Revenue receipt
(D) None of the above [Dec. 2016]
Answer:
(C) Revenue receipt

Question 22.
Maruti & Co. is an AOP consisting of 4 members with equal share. None of the members has income exceeding the taxable limit. The total income of the AOP is ₹ 5 lakh. The income-tax liability of the AOP would be:
(A) ₹ 12,880
(B) ₹ 77,250
(C) ₹ 13,000
(D) ₹ 20,600 [June 2017]
Hint:

On first 2,50,000 Nil
On next 2,50,000 @ 5% 12,500
(+) Education cess @ 4% 12,500
500
Net tax 13,000

Answer:
(C) ₹ 13,000

Question 23.
A municipal committee legally entitled to manage and control a municipal fund is chargeable to income-tax in the status of:
(A) Individual
(B) Association of persons
(C) Local authority
(D) Artificial juridical person [Dec. 2017]
Answer:
(C) Local authority

Question 24.
A domestic company has a total income of ₹ 120 lakh. The rate of surcharge is applicable on income-tax would be:
(A) 2%
(B) 5%
(C) 796
(D) 296 [Dec. 2017]
Answer:
(C) 796

Question 25.
Mr. Ganapathy a resident individual received ₹12 lakh during the financial year 2020-2021 by way of dividends from domestic companies. The applicable rate of tax on such dividend income would be:
(A) At the rate as per slabs
(B) 31.296
(C) Nil
(D) 15.696 [Dec. 2017]
Hint:
W.e.f. 1/4/2020, there is no DDT u/s 115-0. The tax on dividends received shall be payable by the recipient. It would be included in his total income & taxed as per normal slabs applicable to him.
Answer:
(A) At the rate as per slabs

Question 26.
The tax rate applicable for a non-resident engaged in the shipping business in India shall be:
(A) 5%
(B) 7.5%
(C) 10%
(D) 20% [Dec. 2017]
Hint:
Shipping business of non-residents [Section 172]: 7.596 of freight to owner or charter shall be deemed to be total income and taxable at 4096 plus surcharge plus education cess.
Thus, 7.5% rate is used to calculate deemed income and not tax and hence question itself is wrong.
Answer:
(B) 7.5%
[This MCQ is wrongly drafted. For further clarification please see hints.]

Question 27.
A Domestic Manufacturing Company claiming exemptions under Section 115BAA earned total income (computed) for the Assessment Year 2021-2022 ₹ 30 Crore.
The rate of income tax applicable for such company (without cess) would be:
(A) 2596
(B) 3096
(C) 2296
(D) 1596 [Dec. 2017]
Hint:
Income Tax Slab Rates from AY 2020-2021 for domestic manufacturing company NOT claiming exemptions u/s 155BAA is 2296.
Answer:
(C) 2296

Question 28.
Income chargeable to tax under the Income-tax Act, 1961 in the Assessment Year has been defined in Section 2(24) to include:
(i) Voluntary contribution received by an electoral trust
(ii) Profits of insurance business
(iii) Amounts received under Keyman Insurance Policy [except where it is exempt u/s 10(10D)]
(iv) Gift from non-relative of an amount exceeding ₹ 50,000
(A) (ii) and (iv)
(B) (i) and (iv)
(C) (ii) and (iii)
(D) All the four above [June 2018]
Answer:
(D) All the four above

Question 29.
In the case of a cooperative society, the surcharge is levied, where its total income exceeds Crore.
(A) ₹ 1
(B) ₹ 5
(C) ₹ 10
(D) None of the above [June 2018]
Answer:
(A) ₹ 1

Question 30.
HSP, an LLP had taken Key Men insurance policy on the life of its Managing Partner. The policy got matured on 13th September 2020, and an amount of ₹ 75 lakh was paid by the insurers to the Managing Partner. The amount so received on maturity of the policy by the managing partner:
(A) is exempt in full u/s 10(10D)
(B) 5096 of ₹ 75 lakh is exempt
(C) ₹ 75 lakh is taxable
(D) ₹ 25 lakh is exempt and the balance is taxable [June 2018]
Answer:
(C) ₹ 75 lakh is taxable

Question 31.
The basic exemption limit in case of a non-resident individual being a senior citizen for assessment year 2020-2021 is:
(A) ₹ 5,00,000
(B) ₹ 3,00,000
(C) ₹ 2,50,000
(D) ₹ 1,80,000 [Dec. 2018]
Hint:
Basic exemption for senior citizen is ₹ 3,00,000; however, for non-resident senior citizen basis exemption limit is ₹ 2,50,000 and hence option (C) correct.
Answer:
(C) ₹ 2,50,000

Question 32.
Total income-tax including education cess payable in case of a resident individual aged 58 years, whose computed total income is ₹ 4,40,000 for the assessment year 2021-2022 shall be:
(A) ₹ 2,080
(B) Nil
(C) ₹ 4,160
(D) ₹ 4,680 [Dec. 2018]
Hint:

On first 2,50,000 Nil
On next 1,90,000 @ 5% 9,500
(-) Rebate u/s 87A [9,500 or 12,500 whichever is less] 9,500

(9,500)

Nil

Answer:
(B) Nil

Question 33.
Income-tax on the income from the transfer of Carbon Credit under section 115BG of Income-tax, Act, 1961 derived /earned during the previous year 2020-2021 shall be taxable:
(A) At the normal rate of tax
(B) At a concessional rate of 10% only
(C) At concessional rate of 10% + HEC
(D) At 20% of concessional rate [Dec. 2018]
Answer:
(C) At concessional rate of 10% + HEC

Question 34.
A resident individual can avail the benefit of rebate of ₹ 12,500 or 100% of Income Tax whichever is less under section 87A of Income-tax Act, 1961 for the assessment year 2021-2022 on fulfilling the condition that total income does not exceed:
(A) ₹ 2,50,000
(B) ₹ 5,00,000
(C) ₹ 3,50,000
(D) ₹ 3,00,000 [Dec. 2018]
Answer:
(B) ₹ 5,00,000

Question 35.
Surcharge on the amount of tax is to be levied at a specified percentage when an individual is having income exceeding specified limits:
(A) @7% having income exceeding ₹ 1 Croreand@ 12% if the income exceeds ₹ 10 Crore
(B) @ 2% having income exceeding ₹ 1 Crore and @ 12% if the income exceeds ₹ 10 Crore
(C) @ 15% having income exceeding ₹ 1 Crore and @ 10% if the income exceeds ₹ 50 lakh but does not exceed ₹ 1 Crore
(D) None of the above [Dec. 2018]
Answer:
(C) @ 15% having income exceeding ₹ 1 Crore and @ 10% if the income exceeds ₹ 50 lakh but does not exceed ₹ 1 Crore

Question 36.
As per Income-tax Act, 1961 surcharge @ 12% is payable by a domestic company if the total income exceeds:
(A) ₹ 10 lakh
(B) ₹ 1 Crore
(C) ₹ 10 Crore
(D) ₹ 100 Crore [June 2019]
Answer:
(C) ₹ 10 Crore

Question 37.
The total income of Mrs. Rose for the financial year 2020-2021 is ₹ 4,40,000. Her tax liability for AY 2020-2021 on the income of ₹ 4,40,000 shall be:
(A) NIL
(B) ₹ 2,080
(C) ₹ 2,500
(D) ₹ 4,700 [June 2019]
Hint:

On first 2,50,000 Nil
On next 1,90,000 @ 5% 9,500
(-) Rebate u/s 87A [9,500 or 12,500 whichever is less] 9,500

(9,500)

Nil

Answer:
(A) NIL

Question 38.
The Central Board of Direct Taxes (CBDT) is headed by Chairman and also comprises six members. The Chairman and all the Members of the CBDT are being selected:
(A) By Finance Minister
(B) From IRS
(C) By Prime Minister
(D) By Chief Justice of India [Dec. 2019]
Answer:
(B) From IRS

Question 39.
The Central Board of Direct Taxes (CBDT) provides essential inputs for policy and planning of direct taxes
in India and is a functioning
under the Central Board of Revenue Act, 1963.
(A) Constituted Authority
(B) Revenue Administration Authority
(C) Statutory Authority
(D) Central Authority [Dec. 2019]
Answer:
(C) Statutory Authority

Question 40.
The Apex Court in the case of CIT-Gujarat v. Saurashtra Cements Ltd. (2010) 233 CTR 209 has held that liquidated damages received from the supplier on account of delay in the supply of plant and machinery shall be treated in the nature of :
(A) Capital Receipt
(B) Revenue Receipt
(C) Not a receipt but to be reduced from the cost of Plant & Machinery
(D) Compensation [Dec. 2019]
Answer:
(C) Not a receipt but to be reduced from the cost of Plant & Machinery

General Note for the entire topic:
W.r.t Tax Liability computation question of individuals, it is assumed that they have not opted for an alternative mechanism of computing tax u/s 115BAC.

Registration of a Firm – MCQ on Business Law with Answers

Registration of a Firm – MCQ on Business Law with Answers

Students should practice Registration of a Firm – CA Foundation Business Law MCQ Questions with Answers based on the latest syllabus.

Registration of a Firm – Business Law MCQ Questions with Answers

1. Registration of the firm under the Partnership Act is:
(a) Optional
(b) Obligatory
(c) Compulsory
(d) Necessary
Answer:
(a) Optional

2. The Partnership Act by section 69 indirectly renders the registration firm compulsory by providing:
(a) Certain disabilities.
(b) Penalties on partners of unregistered firms.
(c) Penalties on unregistered firms.
(d) Monetary fine on partners.
Answer:
(a) Certain disabilities.

3. A firm name shall not contain any of the following words :
(a) Crown, Imperial
(b) Emperor,Empress
(c) King, Queen
(d) All the above
Answer:
(d) All the above

Registration of a Firm – MCQ on Business Law with Answers

4. Registration of firm is effective from ________.
(a) The date when the Registrar files the statement and makes entries in the Register of firms
(b) The date of presentation of the statement to the Registrar of firms
(c) The date published in the Official Gazette
(d) The date intimated to the partners.
Answer:
(a) The date when the Registrar files the statement and makes entries in the Register of firms

5. Non-registration of the firm does not affect the right of the firm to institute a suit or claim of set-off not exceeding ________.
(a) ₹ 100
(b) ₹ 1,000
(c) ₹ 10,000
(d) ₹ 50,000
Answer:
(a) ₹ 100

6. After the registration of a firm, if a partner retires, such a change in the constitution of the firm requires :
(a) A notice to be sent to the Registrar.
(b) New registration.
(c) An affidavit of a managing partner about the change.
(d) No intimation.
Answer:
(a) A notice to be sent to the Registrar.

7. If an unregistered firm intends to file a suit against a third party, it should get itself registered before filing the suit.
(a) False, as such disability can never be removed.
(b) True, as after registration firm’s disability to file such suit is removed.
(c) It should take permission of the court before filing the suit.
(d) Either (b) or (c)
Answer:
(b) True, as after registration firm’s disability to file such suit is removed.

8. In case of an unregistered firm the partners can file a suit for the :
(a) Dissolution of the firm
(b) Accounts of dissolved firm
(c) Realization of property of dissolved firm
(d) All the above
Answer:
(d) All the above

9. Any person who supplies false information to the Registrar of firms, shall be liable to punishment with imprisonment upto ________.
(a) Three months
(b) Six months
(c) Nine months
(d) Twelve months
Answer:
(a) Three months

Registration of a Firm – MCQ on Business Law with Answers

State Whether The Following are True or False:

  1. The registration of a firm is a condition precedent to the right to institute a suit.
  2. If a partner refuses to sign the application for registration, then registration can be done only by dropping the name of such a partner from the firm.
  3. Application for registration of the firm must be signed by all the partners.
  4. A third party cannot file a suit against an unregistered firm.
  5. A partner of an unregistered firm cannot sue for the dissolution of the firm.
  6. Registration of the firm may be done before filing a suit against the third party.
  7. Registration of the firm must be done at the time of formation of the firm.

Answer:

  1. True
  2. True
  3. True
  4. False
  5. False
  6. True
  7. False
BCK CA Foundation Question Paper | CA Foundation Business and Commercial Knowledge Question Paper

BCK CA Foundation Question Paper | CA Foundation Business and Commercial Knowledge Question Paper

These CA Foundation BCK MCQ Questions BCK CA Foundation Question Paper is designed strictly as per the latest syllabus and exam pattern.

Business and Commercial Knowledge BCK CA Foundation Question Paper

1. The capitalist Economy uses _________ as principle means of allocation of resources _________
(a) Price
(b) Demand
(c) Supply
(d) None of the above
Answer:
(a) Price

2. Consumer sovereignty is found in which economy?
(a) Capitalist Economy
(b) Socialist Economy
(c) Mixed Economy
(d) Communist Economy
Answer:
(a) Capitalist Economy

BCK CA Foundation Question Paper | CA Foundation Business and Commercial Knowledge Question Paper

3. Capitalistic economy uses _________ as principal means of allocating resources
(a) Demand
(b) Supply
(c) Price
(d) All of the above
Answer:
(c) Price

4. A study of how increases in the corporate income tax rate will affect the national unemployment rate an example of _________
(a) Macro-Economics
(b) Descriptive Economics
(c) Micro-economics
(d) Normative Economics
Answer:
(a) Macro-Economics

5. Which of the following statement does not apply to a market economy?
(a) Firms decide whom to hire and what to product
(b) Firms at maximizing profits
(c) Households decide which firms to work for and what to buy with their incomes
(d) Government policies are the pri-mary forces that guide the deci-sions of firms and households.
Answer:
(d) Government policies are the pri-mary forces that guide the deci-sions of firms and households.

6. Factors of production are owned by in market economies.
(a) Govt.
(b) Investors
(c) Privately
(d) None
Answer:
(c) Privately

BCK CA Foundation Question Paper | CA Foundation Business and Commercial Knowledge Question Paper

7. Consumer sovereignty is the char-acteristic of which economy _________
(a) Capitalistic economy
(b) Socialistic Economy
(c) Mixed Economy
(d) None
Answer:
(a) Capitalistic economy

8. Which of the following is used for allocation of resources?
(a) Micro-Economics
(b) Marco-Economics
(c) Econometrics
(d) Descriptive Economics
Answer:
(a) Micro-Economics

9. Which book of economics is known as first book of modern economics?
(a) An Inquiry into nation
(b) An inquiry into wealth of nation
(c) An inquiry into wealth
(d) Wealth of nation.
Answer:
(b) An inquiry into wealth of nation

10. In Economics, we use “scarcity” the term to mean:
(a) Absolute scarcity and lack of resources in less developed countries.
(b) Relative scarcity i.e. scarcity in relation to the wants of the society.
(c) Scarcity during times of business failure and natural calamities.
(d) Scarcity caused on account of excessive consumption by the rich.
Answer:
(b) Relative scarcity i.e. scarcity in relation to the wants of the society.

11. Indifference curve slopes down-wards as one product increase and another decreases because they give.
(a) Equal satisfaction
(b) Greater Satisfaction
(c) Lesser Satisfaction
(d) None
Answer:
(a) Equal satisfaction

12. Income elasticity of luxury goods _________
(a) Zero
(b) Positive and greater than one
(c) Positive and lesser than one
(d) Negative and greater than – 1
Answer:
(b) Positive and greater than one

13. Price elasticity of supply refers to change in responsiveness of quantity to change in:
(a) Price
(b) Price in substitute
(c) Income
(d) Preference
Answer:
(a) Price

BCK CA Foundation Question Paper | CA Foundation Business and Commercial Knowledge Question Paper

14. Which of the following is a pro-perty of an indifference curve?
(a) It is convex to the origin.
(b) The marginal rate of substitution is constant as you move along an indifference curve.
(c) Marginal utility is constant as you move along an indifference curve.
Answer:
(a) It is convex to the origin.

15. The supply of a good refers to:
(a) Actual production of the good
(b) Total existing stock of the good.
(c) Stock available for sale.
(d) Amount of the good offered for sale at a particular price per unit of time.
Answer:
(d) Amount of the good offered for sale at a particular price per unit of time.

16. Which of the following state¬ments about price elasticity of demand is correct?
(a) Price elasticity of demand is a measure of how much the quan-tity demanded of a good responds to a change in the price of that good.
(b) Price elasticity of demand is com¬puted as the percentage change in quantity demanded divided by the percentage change in price.
(c) Price elasticity of demand in the long run would be different from that of the short run.
(d) All of the above.
Answer:
(d) All of the above.

17. Which of the following statements is correct?
(a) With the help of statistical tools, the demand can be forecasted accurately.
(b) The more the number of sub-stitutes of a commodity, more elastic is the demand.
(c) Demand for butter is perfectly elastic.
(d) Gold jewellery will have negative income elasticity.
Answer:
(b) The more the number of sub-stitutes of a commodity, more elastic is the demand.

18. Assume that when price is Rs. 40, the quantity demanded is 15 units and when price is Rs. 38, the quantity demanded is 16 units. Based on this information, what is the marginal revenue resulting from an increase in output from 15 units to 16 units-
(a) 36
(b) 32
(c) 24
(d) 08
Answer:
(d) 08

19. Large production of goods would lead to higher production in future.
(a) Consumer Goods
(b) Capital Goods
(c) Agricultural Goods
(d) Public Goods
Answer:
(b) Capital Goods

20. Supply of land is :
(a) Elastic
(b) Perfectly Elastic
(c) Perfectly Inelastic
(d) Inelastic
Answer:
(c) Perfectly Inelastic

21. Marginal product is the slope of:
(a) Total Product
(b) Average Product
(c) Marginal Product
(d) Implicit Product
Answer:
(a) Total Product

22. Which of the following is correct:
(a) TFC = TVC – TC
(b) TC = TVC – TFC
(c) TFC = TC – TVC
(d) TC = TFC – TVC
Answer:
(c) TFC = TC – TVC

BCK CA Foundation Question Paper | CA Foundation Business and Commercial Knowledge Question Paper

23. Total Cost = Explicit cost + Implicit cost + _________
(a) Super Normal Profit
(b) Normal Profit
(c) Super Normal Losses
(d) Average Fixed Cost
Answer:
(b) Normal Profit

24. Large scale production is associ-ated with _________
(a) Technical Economies
(b) Un-managerial economies
(c) Commercial Economies
(d) Financial Economies
Answer:
(a) Technical Economies

25.

Output TP MP
0
1 10 10
2 8
3 24

What is the MP of 3rd unit of output?
(a) 6
(b) 8
(c) 10
(d) 11
Answer:
(a) 6

26. What is the total product of producing 2nd unit of output?
(a) 8
(b) 10
(c) 18
(d) 24
Answer:
(c) 18

27. What is the AP of 1st three units of output?
(a) 8
(b) 10
(c) 18
(d) 72
Answer:
(c) 18

28. What is the AP of 1st three units of output?
(a) 8
(b) 100
(c) 108
(d) 540
Answer:
(c) 108

29. Diminishing marginal returns implies:
(a) Decreasing average variable costs
(b) Decreasing marginal costs
(c) Increasing marginal costs
(d) Decreasing average fixed costs
Answer:
(c) Increasing marginal costs

BCK CA Foundation Question Paper | CA Foundation Business and Commercial Knowledge Question Paper

30. Average fixed cost for producing 8 units of output was 60, what is the average Fixed cost at 6 units of output _________
(a) 40
(b) 60
(c) 80
(d) 50
Answer:
(c) 80

31. For 15 units of output, average cost was ₹ 250 end fixed cost per unit of output was 125, then the average variable cost per at 15 units?
(a) 25
(b) 50
(c) 125
(d) 250
Answer:
(c) 125

32. Diminishing returns occur _________
(a) When units of a variable input are added to a fixed input and total product falls
(b) When units of a variable input are added to a fixed input and marginal product falls
(c) When the size of the plant is in-creased in the long run.
(d) When the quantity of the fixed input is increased and returns to the variable input falls
Answer:
(b) When units of a variable input are added to a fixed input and marginal product falls

33. Which of the following curve is never U shape _________.
(a) Average cost.
(b) Average Variable Cost
(c) Average Fixed cost
(d) Marginal Cost
Answer:
(c) Average Fixed cost

34. The “law of diminishing returns” applies to :
(a) The short run, but not the long run.
(b) The long run, but not the short run.
(c) Both the short run and the long run.
(d) Neither the short run nor the long run.
Answer:
(a) The short run, but not the long run.

35. A firm producing 7 units of out-put has an average total cost of Rs. 150 and has to pay Rs. 350 to its fixed factors of production whether it produces or not. How much of the average total cost is made up of variable costs?
(a) Rs. 200
(b) Rs. 60
(c) Rs. 100
(d) Rs. 1,400
Answer:
(c) Rs. 100

BCK CA Foundation Question Paper | CA Foundation Business and Commercial Knowledge Question Paper

36. Marginal Cost changes due to changes in _________
(a) Total cost
(b) Average cost
(c) Variable cost
(d) Quantity of output
Answer:
(a) Total cost

37. Diminishing marginal returns for the first four units of a variable in¬put is exhibited by the total product sequence:
(a) 50, 50, 50,50
(b) 50, 110, 180, 260
(c) 50, 100, 150, 200
(d) 50, 90, 120, 140
Answer:
(d) 50, 90, 120, 140

38. Budget line is otherwise called as _________.
(a) Money line
(b) Preference line
(c) Income line
(d) Price line
Answer:
(d) Price line

39. Elasticity of demand under per-fect competition is _________.
(a) One
(b) Two
(c) Zero
(d) Infinite
Answer:
(d) Infinite

40. Which among the following market situation is known as a ‘myth in the market’?
(a) Duopoly
(b) Oligopoly
(c) Discriminating
(d) Perfect Competition
Answer:
(d) Perfect Competition

41. “Let and live philosophy” concern from which market:
(a) Perfect competition
(b) Monopoly
(c) Oligopoly
(d) Monopolistic Competition
Answer:
(c) Oligopoly

42. What is true about the perfect competition market ____________.
(a) AR = MR = PRICE
(b) AR = AC = P
(c) AR > AC
(d) None
Answer:
(a) AR = MR = PRICE

43. If a perfect competition firm is making losses then which condition is suitable. To carry on business as long as it covering variable cost.
(a) Shutdown
(b) Expand it’s plant
(c) Do nothing
(d) Reduce productions
Answer:
(b) Expand it’s plant

44. If in a short run perfect compe-tition earn super normal profit then which condition satisfy.
(a) ATOMC
(b) ATC < MC
(c) MR < AR
(d) MR > AR
Answer:
(b) ATC < MC

45. Group behaviour from which market belongs
(a) Perfect Competition
(b) Monopolistic Competition
(c) Monopoly
(d) Oligopoly
Answer:
(d) Oligopoly

BCK CA Foundation Question Paper | CA Foundation Business and Commercial Knowledge Question Paper

46. In the long run Monopolistic comp, and perfect comp, are same because of _________
(a) Normal Profit
(b) Abnormal Production
(c) Losses
(d) None of these
Answer:
(a) Normal Profit

47. Suppose that the demand curve for the XYZ Co. slopes downward and to the right. We can conclude Suppose that the demand curve for the XYZ Co. slopes downward and to the right. We can conclude _____________
(a) The firm operates in perfectly competitive market
(b) The firm can sell all that it was to at the established market price.
(c) The XYZ Co. is not a price taker in the market because it must lower price to sell additional units of output.
(d) The XYZ Co. will not be maximize profits because price and revenue are subject to change.
Answer:
(c) The XYZ Co. is not a price taker in the market because it must lower price to sell additional units of output.

48. Extreme Product differentiation is found in which market?
(a) Monopolistic Competition
(b) Monopoly
(c) Perfect Competition
(d) Oligopoly
Answer:
(c) Perfect Competition

49. Monopoly firm faces which demand curve?
(a) Downward Sloping
(b) Horizontal
(c) Rising
(d) All of these
Answer:
(a) Downward Sloping

50. A market where there is no restrictions on the transactions is called as _________
(a) Regulated market
(b) Unregulated market
(c) Spot market
(d) Future market
Answer:
(b) Unregulated market

51. Under perfect competition, price elasticity of demand of a firm is _________
(a) Large
(b) Slight
(c) Infinite
(d) Extreme
Answer:
(c) Infinite

BCK CA Foundation Question Paper | CA Foundation Business and Commercial Knowledge Question Paper

52. When Total Revenue (TR) is at the peak Marginal Revenue is equal to _________
(a) Zero
(b) Positive
(c) Negative
(d) More than one
Answer:
(a) Zero

53. As a price of Rs. 20 the quantity demanded is 10 units. With 5% decrease in price the demand increases by 10%. The marginal revenue for the 11th unit will be _________
(a) Rs. 20
(b) Rs. 12
(c) Rs. 9
(d) Rs. 11
Answer:
(c) Rs. 9

54. It is the amount of revenue from sales which exactly equals the amount of expense.
(a) Shut down point
(b) Break-even Point
(c) Profit point
(d) None
Answer:
(b) Break-even Point

55. Which statement is incorrect?
(a) Depression of Severe form of trough
(b) Depression causes fall in Interest rate
(c) Peak is highest point
(d) All of the above
Answer:
(d) All of the above

56. During recession the employment rate _________ and output _________.
(a) Rises-falls
(b) Rises-rises
(c) falls-rises
(d) Falls-falls
Answer:
(d) Falls-falls

57. The internal cause of business cycle is _________
(a) Technology shocks
(b) Fluctuation in effective demand
(c) Post war reconstruction
(d) Population Growth
Answer:
(b) Fluctuation in effective demand

58. An unemployment type cause due to structural changes in the economy is which of the following _________
(a) Involuntary
(b) Ethical friction
(c) Full employment
(d) Structural
Answer:
(d) Structural

BCK CA Foundation Question Paper | CA Foundation Business and Commercial Knowledge Question Paper

59. At ‘trough’ the production in the economy reaches at which of the fol-lowing _________
(a) High
(b) Low
(c) Constant
(d) Negative
Answer:
(b) Low

60. According to some economists which is not the prime cause of Busi-ness Cycles?
(a) Fluctuations in investment
(b) Micro Economic policy
(c) Impact on aggregate economic activity
(d) Psychological factors
Answer:
(b) Micro Economic policy

61. The four phases of Business Cycle are _________
(a) Peak, Construction, Depression and Boom
(b) Prosperity, Recession, Depression and Expansion
(c) Boom, Downswing, Expansion and Prosperity
(d) Peak, Recession, Trough and Recovery
Answer:
(d) Peak, Recession, Trough and Recovery

62. Chinas recent slowdown causes _________
(a) Cycle of decline and panic across the world
(b) Countries across the Globe were able to insulate themselves from the crisis
(c) Stock markets in the Emerging Economics largely remained unaffected
(d) Old technology fuelled the economic decline
Answer:
(a) Cycle of decline and panic across the world

63. Friction unemployment is the characteristic of which of the following stages _________
(a) Expansion
(b) Peak
(c) Construction
(d) Recovery
Answer:
(a) Expansion

64. Actual demand stagnates in which stage _________
(a) Peak
(b) Trough
(c) Recovery
(d) Contraction
Answer:
(a) Peak

65. Find the odd one out from the following question Example of coin-cident indicators are _________
(a) Industrial production
(b) Inflation
(c) Retail Sales
(d) New orders for plant and equipment
Answer:
(d) New orders for plant and equipment

66. Excess capacity in capital industries is the characteristics of which of the following stage?
(a) Trough
(b) Recovery
(c) Depression
(d) Peak
Answer:
(a) Trough

67. Which of the following concern is related to business and commercial knowledge?
(a) Sustainability
(b) Sociology
(c) Traditional
(d) Social At large
Answer:
(a) Sustainability

68. Which one is not a feature of LLP _________
(a) It is a legal entity separate from its member
(b) No limit on maximum No. of members
(c) Every partner is only agent of firm
(d) Registrar of firm is the administrating authority
Answer:
(a) It is a legal entity separate from its member

69. Organic objective of business _________
(a) Sales profit
(b) Fitness of human resources
(c) Product usage and disposal
(d) All of the above
Answer:
(d) All of the above

BCK CA Foundation Question Paper | CA Foundation Business and Commercial Knowledge Question Paper

70. Ideal corresponds to business commercial knowledge _________
(a) Social
(b) Sustainable development
(c) Political
(d) Economic
Answer:
(b) Sustainable development

71. Find odd one out. There can be partnership between _________
(a) Natural person
(b) Partnership firm
(c) Artificial Person
(d) Any Combination of natural and artificial
Answer:
(b) Partnership firm

72. Which of the following is not within the scope of Business Economics?
(a) Capital Budgeting
(b) Risk Analysis
(c) Business Cycles
(d) Accounting Standards
Answer:
(d) Accounting Standards

73. A partnership may be formed to carry on:
(a) Any trade
(b) Profession
(c) Occupation
(d) Social Enterprise
Answer:
(a) Any trade

74. Which of the following is not a feature of LLP _________
(a) Legal entity separate from its partners
(b) No limit on maximum No. of persons
(c) Every partners is agent of LLP
(d) Register of firm is the administering authority
Answer:
(d) Register of firm is the administering authority

75. Which of the following is not within the scope of Business Eco-nomics?
(a) Risk Analysis
(b) Capital Budgeting
(c) Business Cycle
(d) Accounting Standards
Answer:
(d) Accounting Standards

76. Which factor affect demand for companies product?
(a) Political
(b) Social
(c) Economic
(d) Legal
Answer:
(c) Economic

77. Which analysis is used for proac-tive and strategic thinking in its deci-sion making?
(a) SWOT
(b) TOWS
(c) PESTLE
(d) None
Answer:
(c) PESTLE

78. Which pharmaceutical company has the slogan caring for life?
(a) Dr. Reddy’s
(b) Lupin Ltd.
(c) Cipla Ltd.
(d) Sun pharmaceutical Industries.
Answer:
(c) Cipla Ltd.

79. Which gas company owns India’s largest pipeline network?
(a) Gail (India) Ltd.
(b) Bharat Petroleum Corporation Ltd.
(c) Reliance Industries Ltd.
(d) None of the above
Answer:
(a) Gail (India) Ltd.

80. _________ curtail all benefits in some particular issue
(a) Restrictive policies
(b) Regulatory Policies
(c) Facilitating policies
(d) None of these
Answer:
(a) Restrictive policies

81. In which of the following sector (s), FDI is prohibited under both routes
(a) Nidhi Company
(b) Media
(c) Real Estate
(d) Shell Company
Answer:
(a) Nidhi Company

82. A type of privatization where Government surrender partial own-ership and responsibility and sells the majority stake to one or more entities is called as _________
(a) Delegation
(b) Divestment
(c) Displacement
(d) Disinvestment
Answer:
(d) Disinvestment

83. Which of the following policy is used to curtail benefits related to some public issue?
(a) Restrictive
(b) Regulatory
(c) Facilitating
(d) Delegation
Answer:
(a) Restrictive

BCK CA Foundation Question Paper | CA Foundation Business and Commercial Knowledge Question Paper

84. The form of privatization, where government keeps hold of responsibility and private enterprise handles the management of it fully or partly is known as:
(a) Disinvestment
(b) Deregulation
(c) Delegation
(d) Decentralization
Answer:
(d) Decentralization

85. The RBI has been vested with extensive power to control and supervise commercial banking system under the _________
(a) Reserve Bank of India Act, 1934
(b) The Banking Regulation Act, 1949
(c) Both (a) and (b).
(d) None of the above.
Answer:
(c) Both (a) and (b).

86. SEBI, RBI and IRDA are:
(a) Regulatory Institutions
(b) Policy institutions
(c) Satellite institutions
(d) None of these
Answer:
(a) Regulatory Institutions

87. A stock the provides a constant dividends and stable earnings in the periods of economic downturn is _________
(a) Defensive Stock
(b) Cash Budget
(c) Income Stock
(d) Listed Stock
Answer:
(a) Defensive Stock

88. A reduction of 45 basis points will be equal to how much of the following?
(a) 45%
(b) 0.4596
(c) 4.596
(d) 45096
Answer:
(a) 45%

89. Which of the following sets as an indicator of bank’s liquidity and solvency _________
(a) Statutory liquidity ratio
(b) Cash Reserve ratio
(c) Repo rate
(d) Reserve repo rate
Answer:
(a) Statutory liquidity ratio

90. It is loan where the time and cash flow between a short loan and a long term loan is filled up.
(a) Debt financing
(b) Bridge financing
(c) Closure Time
(d) None of these
Answer:
(b) Bridge financing

91. The lowest price at which an owner is willing to sell his securities.
(a) Sale
(b) Ask
(c) Auction
(d) None
Answer:
(b) Ask

92. Selling a portion of ownership in a public enterprise to private parties _________
(a) Delegation
(b) Disinvestment
(c) Divestment
(d) Deregulation
Answer:
(c) Divestment

BCK CA Foundation Question Paper | CA Foundation Business and Commercial Knowledge Question Paper

93. The form in which government surrendered partial ownership and sold the majority stake to one or more private entities in course of time.
(a) Disinvestment
(b) Displacement
(c) Divestment
(d) Delegation
Answer:
(a) Disinvestment

94. Carrying forward of transaction from one settlement period to the next payment is called _________.
(a) Badla
(b) Beta
(c) Blue chips
(d) None
Answer:
(a) Badla

95. A series of payments of an equal amount at fixed intervals for a specified periods is called _________.
(a) Amortize
(b) Annuity due
(c) Annuity
(d) Arbitrage
Answer:
(c) Annuity

96. In a Bull market _________.
(a) Stock prices are decreasing con-sistently
(b) Stock Prices are increasing con-sistently
(c) Stock Prices are stable
(d) Stock Prices are wildly fluctuating
Answer:
(b) Stock Prices are increasing con-sistently

97. What is consolidation?
(a) It is expense that is supposed to reflect the loss in value of a fixed asset.
(b) Combination of two or more entities that occurs when the entities transfer all their net assets to a new entity created for that purpose.
(c) Costs that can be attributed clearly to the activity you are considering.
(d) None
Answer:
(b) Combination of two or more entities that occurs when the entities transfer all their net assets to a new entity created for that purpose.

98. _________ is the simultaneous purchase land sale of two identical commodities or in-struments. This simultaneous sale and purchase is done in order to take advantage of the price variations in two different markets.
(a) Cap
(b) Term insurance
(c) Arbitrage
(d) Hedge
Answer:
(d) Hedge

99. _________ is a combination of several companies working together for a particular purpose for example in order to buy something or build something.
(a) Consortium
(b) Joints Venture
(c) Co-opting
(d) All of above
Answer:
(a) Consortium

100. It is known as electronic cash and digital cash, it uses computer, in-ternet and other networks to execute transactions and transfer funds.
(a) Cash
(b) E-Cash
(c) E- commerce
(d) None
Answer:
(b) E-Cash

South Indian Bank Personal Loan @ 11.55% to 14.40% | Documents Required, How To Apply?, Interest Rates, Reasons and Features

South Indian Bank Personal Loan @ 11.55% to 14.40% | Documents Required, How To Apply?, Interest Rates, Reasons and Features

South Indian Bank Personal Loan: Personal loans can be seen as a form of installment credit. It is extremely helpful for those people whose financial condition is really poor and is in requirement of instant monetary support. The South Indian Bank Personal Loan comes to one’s rescue when one is short of money.

South Indian Bank Personal Loan interest rates are competitive with the market and are really good. It is very easy to access a personal loan under this bank since one can apply for South Indian Bank Personal Loan online as well.

Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.

South Indian Bank

South Indian Bank Personal Loan Overview

The South Indian Bank is very secure and dynamic whose main objective is customer convenience. Their vision is to become the most preferred bank when it comes to corporate governance, customer service, and stakeholder value.

The bank provides various financial services to its customers, such as, recurring deposits, savings deposits, PPF accounts, home loans, personal loans, lockers, mobile banking RTGS, NEFT, etc.

About the South Indian Bank

The South Indian Bank is a private sector bank with its foundation in India. It was founded on 29th January, 1929 and has its headquarters in Thrissur, Kerala. This bank was the first private sector bank in Kerala that received the license from RBI under Section 22 of the Act of Banking Regulation, 1949. The bank currently has a whopping 924 branches all over India.

How to Apply for a Personal Loan in the South Indian Bank?

Online Method

One can apply for South Indian Bank Personal Loan by following these easy steps detailed below.

Step 1: Visit the bank’s website and find the personal loan option. Select the option of South Indian Bank Personal Loan present under it and click on apply.

Step 2: A new screen will open that will contain a form. The form needs to be filled with essential details like name, address, and other personal information.

Step 3: After putting in the personal details, click on apply for loan. A new window opens where other essential information like account numbers and the documents needed for loan approval are required. Fill those in and then double-check the information. Lastly, click on submit to submit your loan application.

Offline Method

For the offline method, the applicant needs to visit the bank branch. There they need to fill out the form with all the essential required details and submit it along with all the required documents.

South Indian Bank Personal Loan Eligibility Criteria

  • The age of the individual needs to be between 21 to 58 years.
  • The applicant needs to be a permanent employee of State or Central Govt., Public Sector Undertakings, Corporations, Private Sector Companies, or reputed establishments.
  • The applicant needs to be salaried or self-employed.
  • The applicant has to be employed for a minimum period of three years to be eligible for the loan.

South Indian Bank Personal Loan Documents Required

  • The signed and filled up personal loan application form with the necessary details. One must also make sure that the details the applicant has filled in are accurate.
  • Passport size photographs need to be submitted to the bank branch along with the signed loan application. Mostly the bank requires more than one copy of the current photograph.
  • Proof of identity of the applicant is required. Viable proofs of identity include Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card.
  • The applicant has to provide proof of their income.

If they are salaried then their salary certificate, along with the latest salary slip is the proof.

If the applicant is self-employed, then their Income Tax Returns of 2 previous financial years is the proof.

  • Proof of Address is required and that includes Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
  • A bank statement or a copy of the Passbook is required. The passbook or statement must have an account of the entries of the last six months.

Reasons for Rejection of the Loan

  • Poor Credit Score: A credit Score defines the borrower’s credibility to repay the loan, and thus a low credit score will lead to cancellation of the loan proposal.
  • Large size of existing debt: A borrower’s loan application can be rejected by the bank if the borrower already has a big existing debt.

South Indian Bank Personal Loan Features

Maximum loan amount: The South Indian Bank provides a maximum of Rs. 10 Lakhs for Personal Loans. The amount is quite huge and the borrower can avail the entire amount when they are in crisis.

Multiple loan repayment options: In the South Indian Bank Personal Loan scheme, the borrower gets the opportunity of repaying the loan amount in multiple ways. The bank provides many repayment options, like mortgaging something of equivalent value, etc.

Fixed Time Period: The bank has a specified time period for when the borrower has to repay the loan amount. The maximum time given to the borrower to pay off the loan amount is 48 months.

Fast & easy processing of personal loan applications and quick loan approval: The South Indian Bank Personal Loan has one of the fastest and simplest processing times for personal loans. Their loan approval system is also very quick and hence customers do not have to wait for long time periods.

The bank does not insist upon a guarantor: The approval of the personal loan does not need another person as guarantor to be present and to be held accountable if the borrower fails to pay for the money.

Attractive & competitive interest rates: The South Indian Bank has an interest rate of 10.25% to 14.15% on their personal loans. The rates are extremely competitive in the market and are quite attractive to the customers as well.

South Indian Bank Personal Loan Types

The South Indian Bank offers different options under their Loan. These options are available to satisfy the needs of salaried individuals, self-employed individuals, and even group borrowers. Currently, the South Indian Bank is offering two types of Personal Loans, that are:

The South Indian Bank Personal Loan for individuals 

Under this loan, the salaried and self-employed individuals get access to instant loan amounts at a reasonable interest rate. Even NRIs can access this loan. For applying for the loan, one can do the needful online with extremely minimal documentation. The requirement for any collateral security is also nil.

South Indian Bank Personal Loan for Group

This loan offers financial help to a group of people collectively and fulfills their different personal needs. The individual requirements may include educational expenses, debt repayment, travel expenses, etc. There is no requirement of collateral security for securing the loan, and the documentation is also very minimal.

Specialties of the South Indian Bank

  • The South Indian Bank has received the Best MSME Bank award among all the other private sector banks.
  • They are the first private sector bank that has opened an NRI branch and has also started an Industrial Finance Branch.
  • Among all the other banks in Kerala, the South Indian Bank is the first bank that executed a core banking system.
  • They have branches all over India and are counted as one of the most proactive banks in India.

Takeaway from the Article

The South Indian Bank is a safe and secure bank that provides personal loans at a good interest rate. Their personal loan features are extremely exciting and they even have an online method for the application of loans. The bank’s team is extremely tech-savvy and they make sure to provide the best customer care services as well.

Matrices – CA Foundation Maths Study Material

This Matrices – CA Foundation Maths Study Material is designed strictly as per the latest syllabus and exam pattern.

Matrices – CA Foundation Maths Study Material

Previous Year Exam Questions (Memory Based)

Question 1.
The value of k for which the points (k, 1)., (5, 5) and (10, 7) may be collinear if: [1 Mark, May 2018]
(a) k = -5
(b) k = 7
(c) k = 9
(d) k = 1
Answer:
Formula
Points (x1; y1) ; (x2; y2) and (x3; y3) are collinear; if
\(\left|\begin{array}{lll}
x_1 & y_1 & 1 \\
x_2 & y_2 & 1 \\
x_3 & y_3 & 1
\end{array}\right|\) = 0

⇒ \(\left|\begin{array}{ccc}
K & 1 & 1 \\
5 & 5 & 1 \\
10 & 7 & 1
\end{array}\right|\) = 0
or; K(5 – 7) – 1(5 – 10) + 1(35 – 50) = 0
or; -2K + 5 – 15 = 0 or K = -5
(a) is correct.

Question 2.
If |A| = 0, then A is: [1 Mark, May 2018]
(a) 0
(b) Uro matrix
(c) Singular matrix
(d) Non-Singular matrix
Answer:
(c)
If |A| = 0, Then,
Matrix – A is called Singular Matrix.

Question 3.
If A = \(\left[\begin{array}{cc}
2 i & i \\
i & -i
\end{array}\right]\) if i2 = -1 then |A| = ?
(a) 2
(b) 3
(c) 4
(d) 5
Solution:
(b)
|A| = \(\left|\begin{array}{cc}
2 i & i \\
i & -i
\end{array}\right|\) = -2i2 – i2
= -3i2 = -3(-1) = 3

Question 4.
If A and B are matrices then which from the following is true ? [1 Mark, May 2018]
(«) A + B ≠B + A
(b) (A’)2 ≠ A
(c) AB ≠ BA
(d) all are true
Answer:
(c)

Matrices – CA Foundation Maths Study Material

Question 5.
Transpose of a rectangular matrix is a: [1 Mark, May 2018]
(a) Rectangular matrix
(b) Diagonal matrix
(c) Square matrix
(d) Scalar matrix
Answer:
(a)

Question 6.
If A = \(\left[\begin{array}{cc}
-5 & 2 \\
1 & -3
\end{array}\right]\), then adj. A is [1 Mark, Nov. 2018]
(a) \(\left[\begin{array}{ll}
-3 & -2 \\
-1 & -5
\end{array}\right]\)
(b) \(\left[\begin{array}{cc}
3 & -2 \\
-1 & 5
\end{array}\right]\)
(c) \(\left[\begin{array}{ll}
5 & 1 \\
2 & 3
\end{array}\right]\)
(d) \(\left[\begin{array}{ll}
3 & 2 \\
1 & 5
\end{array}\right]\)
Answer:
(a)

Question 7.
If A = \(\left[\begin{array}{ll}
5 & x \\
y & 0
\end{array}\right]\) and A = AT, then [1 Mark, Nov. 2008]
(a) x = 0, y = 5
(b) x = y
(c) x + y =5
(d) None
Answer:
(b)
A = AT
∴ \(\left[\begin{array}{ll}
5 & x \\
y & 0
\end{array}\right]=\left[\begin{array}{ll}
5 & y \\
x & 0
\end{array}\right]\)
⇒ x = y

Question 8.
Let AT be the transpose of matrix A having order m × n, then (AT. A) is a matrix of order: [1 Mark, Nov. 2018]
(a) m × m
(b) n × n
(c) m × n
(d) n × m
Answer:
(a)
Order of AT is m × n
Order of A = n × m
Order of (ATm × n . An × m)
= m × m

Question 9.
If \(\left(\begin{array}{cc}
x+y & 1 \\
1 & x-y
\end{array}\right)+\left(\begin{array}{cc}
2 & 3 \\
2 & -4
\end{array}\right)=\left(\begin{array}{cc}
12 & 4 \\
3 & 0
\end{array}\right)\) then [1 Mark, June 2019]
(a) x = 7, y = -3
(b) x = -7, y = -3
(c) x = -7, y = 3
(d) x = 7, y = 3
Answer:
(d)
TRICKS:
Go by Choices
(d) satisfies it

Matrices – CA Foundation Maths Study Material

Question 10.
[1 2 3]\(\left[\begin{array}{l}
\log _{10} 2 \\
\log _{10} 3 \\
\log _{10} 4
\end{array}\right]\) = . [1 Mark, June 2019]
(a) log10(1521)
(b) log10(1152)
(c) log10(5211)
(d) log10(2151)
Answer:
(b)
[1 2 3]\(\left[\begin{array}{l}
\log _{10} 2 \\
\log _{10} 3 \\
\log _{10} 4
\end{array}\right]\)
1.log10 2 + 2log103 + 3log104
= log102 + log1032 +log10 43
= l0g10 (2.9.64) = log101152

Jammu And Kashmir Bank Personal Loan | Eligibility Criteria, Documents Required, How To Apply? and Verification Process

Jammu And Kashmir Bank Personal Loan | Eligibility Criteria, Documents Required, How To Apply? and Verification Process

Jammu And Kashmir Bank Personal Loan: For short, Jammu & Kashmir Bank, or J&K Bank, provides a diverse variety of J&K bank loans, personal loans to salaried employees, company owners, professionals, and retirees.

The bank provides a range of smart banking products, including savings accounts, current accounts, fixed deposits, non-resident equivalent fixed deposits, along with J&K Bank Personal Loan interest rate and the provided the steps to opt for J&K bank personal loan apply online. To learn more about the personal loan plans offered by J&K Bank, read this article.

Want to compare Jammu And Kashmir Bank Personal Loan with other bank personal loans for lowest interest rates and extra offerings? Just keep an eye on our Complete Guide on Personal Loan & choose the suitable bank to apply for the loan.

Jammu And Kashmir Bank

Jammu And Kashmir Bank Overview

Jammu and Kashmir Bank (J&K Bank) was founded in 1938 as a Scheduled Commercial Bank and is one of India’s oldest private sector banks. The bank is headquartered in Srinagar and is listed on the NSE and the BSE. The Reserve Bank of India has designated the bank as the sole agent for carrying out banking activity for the Government of Jammu & Kashmir and Ladakh in the Union Territories of Jammu & Kashmir and Ladakh.

Jammu And Kashmir Bank Personal Loan Features

  • There are several options for paying off debt.
  • You can apply for a personal loan easily and quickly.
  • Loan approved promptly
  • The bank does not demand for guarantees.
  • Attractive and competitive interest rates
  • Major corporation employees are eligible for special programs and discounts.
  • The provision of security is not usually required in order to obtain a personal loan.

How to Apply for J&K Bank Personal Loan?

The following is a guide to applying for a personal loan online:

  • Step 1: Fill out the personal loan application form at the top of this page.
  • Step 2: You’ll see a list of qualified personal loan offers organized by acceptance possibilities, which are computed using a proprietary technology known as “SmartMatch.”
  • Step 3: Choose the best loan deal for your circumstances or contact us for assistance.
  • Step 4: When you submit your online loan application, you’ll get an instant conditional e-approval.
  • Step 5: Finally, our experts will walk you through the loan processing and disbursement procedure.

Jammu And Kashmir Bank Personal Loan Eligibility Criteria

The following table summarises the eligibility requirements for the various personal loan products offered by J&K Bank for Saral/Saholiat Finance Scheme.

  • For Employees: Permanent workers of the State/Central Government, Public Sector Undertakings, Autonomous Bodies, and Institutions are eligible for the J&K Bank Saral/Saholiat salaried individual loan.
  • For Professional: You must be a licensed professional such as a physician (MBBS, BDS, etc.), engineer, architect, chartered accountant, or lawyer.
  • For Pensioner: You must be a Central/State Government Pensioner, including family pensioners, who receive benefits from J&K Bank. Your age should be between 25 and 75 years.
  • For Businessmen: You must be a current J&K Bank customer (cash credit/secured overdraft/term loan) with a minimum three-year history with the bank. You need to have a bank account with a Platinum or Gold status. Please remember that you must have a minimum of one year standing and may incur up to two penalties for failing to maintain AMB throughout the term.
  • For Festival Advance Scheme: You must be a permanent employee or retiree of the State/Central Government, a Government/Semi-Government Enterprise, or an Autonomous Body.

Jammu And Kashmir Bank Personal Loan Documents Required

While the bank does not define the specific documentation necessary for each form of personal loan, a few of the most mentioned below are essential:

  • Proof of Identity: This might contain your Aadhaar card, voter ID card, PAN card, passport, and driver’s license, among other things.
  • Proof of Address: Most recent utility bill (telephone bill/electricity), bank passbook, Aadhaar Card, and other documents may be included.
  • Proof of Income: This might contain things like your pay stubs, bank account statement, profit and loss statement, and income tax return, among other things.
  • Personal loan application form: It must be completely filled out and signed—color passport photos were taken recently.

Reasons for Personal Loan Application Rejection

An unfavorable credit rating: It is crucial for a lender to determine a borrower’s risk of default based on a credit score. Low credit scores result in many personal loan applications being declined. A person with a credit score below 750 may have difficulty getting a personal loan.

There is a greater amount of existing debt

Someone might be refused a loan if they may have taken a lot of loans and your loan-to-net-income ratio is more than 40%.

Loan Inquiries Have Increased: When you apply for credit, a lender will obtain your credit report from the credit bureaus. The credit agency will classify these requests as hard inquiries, and they will show on your credit record. You should not make too many questions, regardless of if it is free. If you make too many queries, your credit score may suffer.

Types of Personal Loan Offered by J&K bank

Saral/Saholiat Finance Scheme for Employees-

  • End-Use: Any personal requirement.
  • Maximum loan amount: 36 months’ gross pay.
  • Security: If your payment account is not kept with J&K Bank, a suitable third-party guarantee is provided.
  • Term of Repayment: Up to 7 years

Saral/Saholiat Finance Scheme for professionals-

  • End Use: Any persona/professional requirement.
  • Loan amount: up to Rs. ten lakh
  • Security: Two-person guarantee from a suitable third party
  • Term of Repayment: Up to 5 years

Saral/Saholiat Finance Scheme for the business owner-

  • End Use: Any personal requirement.
  • The loan amount is up to Rs. 5 lakh.
  • Security: Appropriate third-party assurance.
  • Tenure of Repayment: Up to 5 years

Saral/Saholiat Finance Scheme for pensioners-

  • End Use: Any personal requirement.
  • Loan amount: 18 months’ net pension if you are under the age of 70.
  • If you’re under 75 years old, you’ll get a 12-month net pension.
  • If you are a family pensioner under the age of 70, you will receive a 12-month net pension of Rs. 2 lakh.
  • Safety: A family pensioner or a family member’s promise.
  • Term of Repayment: Up to 5 years

Myths about Personal Loans

  • Loan rejection is caused by a poor credit score: While a person’s credit score is taken into account when determining their loan eligibility, there are other variables that take precedence on a poor credit score. It should be noted, however, that the rate of interest paid to people with a low credit score is often greater than that charged to those with a better credit score.
  • The interest rate on personal loans is quite high: Interest rates are commonly set by financial institutions and other lenders depending on a person’s repayment ability and credit score. Loans with higher interest rates are often granted to people who have a low repayment capacity. Borrowers with good credit and a good repayment history can get a personal loan with an interest rate as low as 10% p.a.
  • If you already have a loan, you won’t be able to get a personal loan: Many loan applicants believe that if they are presently repaying another debt, they will be unable to receive a personal loan. This is not the case, and the requirements for approving a second personal loan are the same as they were for the first. Financial institutions approve loan applications based on the borrower’s repayment potential and current income.

Conclusion on Jammu And Kashmir Bank Personal Loan

Personal loans are available from Jammu and Kashmir Bank for a range of purposes, from the purchase of smartphones and computers to the construction of modular kitchens and the buying of cookies.

The term of a Jammu and Kashmir Bank personal loan varies according to the scheme selected.

While the majority of personal loan programs are fee-free, the Smartphone Finance scheme, the Sahafat Finance scheme, and the Modular Kitchen Finance scheme all impose processing costs of Rs.250, 0.50 percent of the loan amount, and Rs.200 + GST, respectively.

Borrowers’ maximum credit limit is determined by the plan. While the Consumer Loan plan permits borrowing up to Rs.75,000, the Saholiat/Saral Finance scheme permits borrowing up to Rs.20 lakh. Each loan program has a cap on the amount that can be borrowed.

Bharatiya Mahila Bank Personal Loan 10.15% to 13.65% PA | Features, Benefits, Eligibility, Ways To Apply, Characteristics

Bharatiya Mahila Bank Personal Loan 10.15% to 13.65% PA | Features, Benefits, Eligibility, Ways To Apply, Characteristics

Bharatiya Mahila Bank Personal Loan: The Bharatiya Mahila Bank offers personal loans to women who are looking forward to supporting their finances. Their goal is to empower women and help them get associated with the banking institutions.

In this writing, we talk about the eligibility, repayment, EMI and all the other details about Bharatiya Mahila Bank Education Loan, personal loan and business loan.

The bank’s business loans help women establish themselves as entrepreneurs. The Bharatiya Mahila Bank Business Loan Eligibility will help you determine if you will be granted a loan from the Bharatiya Mahila Bank.

In this writing, we have also provided the link to the Bharatiya Mahila bank business loan website, which will help you apply for the loan.

Want to compare Bharatiya Mahila Bank Personal Loan with other bank personal loans for lowest interest rates and extra offerings? Just keep an eye on our Complete Guide on Personal Loan & choose the suitable bank to apply for the loan.

Bharatiya Mahila Bank

What is the Bharatiya Mahila Bank?

The Bharatiya Mahila Bank Limited is an Indian public sector bank. Its headquarters are situated in Delhi. The Bharatiya Mahila Bank Limited organisation was founded in the year 2013. It has 107 branches spread all over the country.

It offers all the financial assistance to its customers such as fixed deposit, saving deposit, recurring deposit, personal loans, home loans, car loan, education loan, PPF account, lockers, gold loan, holiday loan, Atal Pension Yojana, net banking, mobile banking, RTGS, E-Wallet, Pradhan Mantri Jeevan Jyoti Bima Yojana, NEFT, IMPS, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, and many more.

Find details related to the Bharatiya Mahila Bank Limited, such as the Official Website of the bank, ATMs across the country, Contact Numbers of the bank, official EmailID. You will also find information about loan purpose, Eligibility criteria, Margin, Repayment of Personal Loan, Document needed for Personal Loan from below.

Features and Benefits of the Personal Loan of Bharatiya Mahila Bank

  • The maximum amount of loan
  • Multiple options for loan repayment are available
  • Quick & easy sanction and processing of personal loan application
  • Easy loan approval
  • The bank does not insist upon a guarantor
  • Attractive & competitive rates of interest
  • Offers unique schemes as well as discounts for employees of companies
  • Generally, no security is needed for availing of a personal loan

Ways to Apply for a Bharatiya Mahila Bank Personal Loan

One can apply for their loan by both – online or offline mode. Listed below are the ways in which one can choose from one way, whichever suits them.

How to Apply Online?

One can apply online via the official website of Bank and fill up their personal information as well as work information & upload all the necessary documents. One can use it after checking their loan eligibility.

How to Apply Offline?

One can visit any of the Bank branches personally along with all the needed documents, properly fill-up the form and get their loan sanction process started.

Purpose of Bharatiya Mahila Bank Personal Loan

To meet all types of financial needs such as a holiday trip abroad, marriage in the family, household shifting, repayment of an existing loan, payment of credit card bills, medical emergencies and many more without worrying about having any collateral or property.

Eligibility for Bharatiya Mahila Bank Personal Loan

  • Age limit from 21 to 58 years.
  • The individual must be a permanent employee of State/Central Govt., Corporations, Private Sector Companies, Public Sector Undertakings, and reputed establishments.
  • Individuals who are Salaried or Self – Employed who have a regular income.
  • Number of years in the current job or business or profession: up to 3 years

Documents Needed for Bharatiya Mahila Bank Personal Loan

  • Properly filled up and signed application form for the personal loan.
  • Passport-sized photographs of the individual taking the loan.
  • Identity proof – Driving License, Passport, PAN card, Voter ID Card, Government department ID card, Aadhar card.
  • Income Proof – Latest salary slip that shows all deductions or Form 16 accompanied with the recent salary certificate (for salaried individuals)
  • Address proof – Latest electricity bill, bank account statement, latest credit card statement, latest mobile or telephone bill, Existing home lease agreement.
  • Bank passbook or bank statement of having entries of previous six months.

Amount Allowed for Bharatiya Mahila Bank Personal Loan

The minimum amount of Rs. 10,000 to the maximum amount up to 12 times Net Monthly Income for salaried people and pensioners subject to a ceiling of Rs.10,00,000 in all centres.

Repayment of Bharatiya Mahila Bank Personal Loan

Maximum 60 EMIs are permitted for repayment of one’s loan. It begins with 12 EMIs. The repayment time is also dependent upon one’s credit score.

Bharatiya Mahila Bank: Repayment of loan via Equated Monthly Instalments (EMI)

Any one of the following ways can be used for repaying the loan:

  • Standing instruction registration at one’s bank
  • Via Internet Banking solution
  • Automated Payment by ECS (Electronic Clearing Service)
  • Through Mobile Banking Application, if offered by the bank

What is Needed for Creating Banking Opportunities for Women?

In the Indian subcontinent, only 26% of females have an account registered with a formal financial organisation, compared to 46% of males.

This has altered after the initiative of Pradhan Manthri Jan Dhan Yojana – accounts of females jumped radically to around 60%. That implies an account in either a bank, a co-operative, post office, a credit union, or a microfinance institution, as per a study by the World Bank.

Along with this, for females, per capita credit is 80 per cent lesser than males.

Furthermore, the research using a global dataset with 350 Microfinance Institutions (MFIs) in 70 countries showcases that more female clients have been associated with lower write-offs, lower portfolio-at-risk, and lower credit-loss provisions ceteris paribus provision.

Key Characteristics of the Management

Bharatiya Mahila Bank (BMB) was owned entirely by the Indian Government. Firstly, the bank consisted of a board of directors having eight women. Mrs Usha Ananthasubramanian is the managing director as well as the chairman of the bank, and SM Swathi is the executive director of the bank.

One of the main objectives of this Bank is to focus on the banking requirements of women and encourage economic empowerment via women’s growth and development.

Bhartiya Mahila Bank Business Loan

The bank promises a platform for female entrepreneurs to get loans for their businesses. These business loans have been intended for various business purposes for meeting the need for working capital or the expansion of the business.

Bharatiya Mahila Bank provides loan amounts to a maximum amount of Rs. 20 Crores for manufacturing enterprises. Outstanding business loans with a profitable interest rate have been offered by the BMB and grant collateral-free loans up to Rs. 1 crore under the CGTMSE cover.

Business Loan Details At Bhartiya Mahila Bank

The details of Business Loan Interests, charges, fees and Commissions at Bhartiya Mahila Bank are stated below.

Type Details
Interest Rate 10.15% per annum to 13.65% per annum
Loan Amount for Retail Trader as well as Service Enterprises Up to Rs. 5,00,00,000
Loan Amount for Manufacturing Enterprises Up to Rs. 1,00,00,000
Loan Tenure Up to 7 years
Processing Fee As per bank’s norms

 

Linear Equations – CA Foundation Maths Study Material

This Linear Equations – CA Foundation Maths Study Material is designed strictly as per the latest syllabus and exam pattern.

Linear Equations – CA Foundation Maths Study Material

The mathematical statement of equality is called Equation.

Linear Equation
The equation having highest power on the variable one is called linear equation. This is also called Equation of 1 variable.
Example
7x – 5 = 9.

Simultaneous Equation
Two or more linear equations having two or more variables is called simultaneous equation.
Example
3x + 2y = 10 &
2x + 3y = 2 are jointly called Simultaneous Equation.

Quadratic Equation (Equation of degree 2):
The equation of degree 2 is called Quadratic Equation or polynomial of degree 2.
Example
3x2 + 5x + 6 = 0 is a Quadratic Equation.

Cubic Equation:
The equation of degree 3 is called Cubic Equation.
Example
4x3 + 3x2 + 5x – 17 = 0 is a Cubic Equation.

Linear Equations – CA Foundation Maths Study Material

Simple Equation
The Equation with one unknown variable x in the form ax + b = 0 is called Simple Equation. Where a ≠ 0.

Illustrative Examples
Example 1
The Equation -x + 1 = 5 – 2x will be satisfied for x equal to :
(a) 2
(b) 4
(c) 1
(d) None of these
Answer:
(b) is correct,
∵ -x + 1 = 5 – 2x.
or -x + 2x = 5 – 1.
or x = 4
Tricks
Do not solve such types of equation Go by choices. It takes minimum time.
Option (b)
Put x = 4 in the equation mentally and see
LHS – 4 + 1 = -3
RHS = 7 – 2 × 4 = -3
∴ LHS = RHS.
So option (b) is correct because it satisfies the equation.

Example-2
The value of y of fraction \(\frac{x}{y}\) exceeds with x by 5 and if 3 be added to both the fractions becomes \(\frac{3}{4}\). Find the fraction.
(a) \(\frac{12}{17}\)
(b) \(\frac{13}{17}\)
(c) –\(\frac{1}{3}\)
(d) None
Answer:
Option (a) is correct
y = x + 5
Fraction = \(\frac{x}{x+5}\)
From question = \(\frac{x+3}{x+5+3}=\frac{3}{4}\)
or \(\frac{x+3}{x+8}=\frac{3}{4}\)
or 4x + 12 = 3x + 24
or 4x -3x = 24 – 12
or x = 12.
Fraction = \(\frac{x}{x+5}=\frac{12}{12+5}=\frac{12}{17}\)
Option (a) is correct.
Tricks
Go by choices.
Let we see option (a) \(\frac{12}{17}\)
Clearly y = 17 is 5 more than x = 12.
Option (a) satisfies the 1st condition of the question.
If \(\frac{12+3}{17+3}=\frac{15}{20}=\frac{3}{4}\)
∴ Option (a) also satisfy 2nd condition of the equation.

Example-3
In a two digits number; the digit in the ten’s place is twice the digit in the unit’s place. If 18 be subtracted from the number the digits are reversed. Find the number.
(a) 63
(b) 21
(c) 42
(d) None
Answer:
(c) is correct.
Let x be the unit place digit.
So, Ten’s place digit = 2x.
∴ Number = 10x2x + x = 21x.
By question.
21x – 18 = 10x + 2x
or 21x – 12x = 18
or 9x = 18
∴ x = 2.
So, the required No. = 21x = 21 × 2 = 42
Tricks
Go by choices.
Option (a); (b) and (c) all satisfy 1st condition of the question.
i.e. in (a), (b), (c) Ten’s place digit is twice of unit place digit.
Let we see for 2nd condition.
(a) 63 – 18 = 45 ≠ 36 (Digits not reserved)
(b) 21 – 18 = 3 ≠ 12 (Digits not reserved)
(c) 42 – 18 = 24 (Digits reserved)
So option (c) also satisfies 2nd condition of the question.
∴ (c) is correct.

Example-4
For a certain commodity the demand equation giving “y” units for a price “p” in rupees per unit is y = 100 (10 – p). The supply equation giving the supply z units for a price “p” in rupees per unit isz = 75(p-3). The market price is such at which demand equals supply. Find the market price and quantity that will be brought and sold.
(a) ₹ 7; 300 units
(b) ₹ 8; 400 units
(c) ₹ 5; 200 units
(d) None
Answer:
(a) is correct.
Demand = Supply (given)
100 (10 – P) = 75 (P – 3)
or 40 – 4p – 3p – 9
or – 4p – 3p = -40 – 9
or – 7p = – 49
or p = 7
∴ y = 100 (10 – p) =100 (10 – 7) = 300 units
z = 75 (p – 3) = 75 (7 – 3) = 300 units.
∴ Price = ₹ 7 per unit.
Quantity = 300 units
∴ (a) is correct.
Tricks
Go by Choices
Option (a) satisfies given both conditions.

Linear Equations – CA Foundation Maths Study Material

Previous Year Exam Questions

Question 1.
A man went to the Reserve Bank of India with ₹ 1,000. He asked the cashier to give him ₹ 5 and ₹ 10 notes only in return. The man got 175 notes in all. Find how many notes of ₹ 5 and ₹ 10 did he receive? [1 Mark, Feb. 2008]
(a) (25,150)
(b) (40,110)
(c) (150,25)
(d) None
Answer:
Tricks :
Go by choices
For (a) 25 × 5 + 150 × 10 ≠ Rs. 1000
(b) 40 × 5 + 110 × 10 ≠ Rs 1000
(c) 150 × 5 + 25 × 10 = Rs 1000
(c) is correct

Question 2.
A man rowing at the rate of 5 km in an hour in still water takes thrice as much time in going 40 km up the river as in going 40 km down. Find the rate at which the river flows: [1 Mark, June 2008]
(a) 9 km/hr
(b) 10 km/hr
(c) 12 km/hr
(d) None
Answer:
Tricks : Go by choices
Given Distance = 40 km
(a) t = \(\frac{40}{9-5}\) (upstream) = 10hrs
Down Stream t = \(\frac{40}{9+5}=\frac{40}{14}=\frac{20}{7}\) hrs
∴ (a) is not correct.

(b) Down stream t = \(\frac{40}{10+5}=\frac{40}{15}=\frac{8}{3}\)
Upstream, t = \(\frac{40}{10-5}=\frac{40}{5}\)hrs
Clearly; 8 = 3 × \(\frac{8}{3}\)
∴ (b) is correct

Question 3.
The point of intersection of the lines 2x – 5y = 6 and x + y = 3 is . [1 Mark, Dec. 2009]
(a) (0, 3)
(b) (3, 0)
(c) (3, 3)
(d) (0, 0)
Answer:
(b) Tricks : Go by choices.
Intersecting Point lies on both straight lines. It will satisfy both eqns.
∴ For (a) (0,3) Point 2 × 0 – 5 × 3 ≠ 6
∴ It is incorrect
Option (b) (3 ; 0) satisfies both eqns.
∴ (b) is correct.

Question 4.
If the length of a rectangle is 5 cm more than the breadth and if the perimeter of the rectangle is 40 cm, then the length & breadth of the rectangle will be: [1 Mark, Dec. 2009]
(a) 7.5 cm, 2.5 cm
(b) 10cm, 5cm
(c) 2.5 cm, 7.5cm
(d) 15.5cm, 10.5cm
Answer:
(c) Tricks : Go by choices.
1st condition = length is 5cm more than breadth
All option satisfy this condition
II Perimeter = 2(l+b) = 40 of rectangle
Only option (c) satisfies it
∴ (c) is correct.

Detail Method
Let breadth = x ;Length = x + 5
Perimeter = 40
2 (x+ 5 + x) = 40
or 2x + 5 = 20
or x = \(\frac{15}{2}\) = 7.5cm
∴ Length = x + 5 = 7.5 + 5 = 12.5
Breadth = x = 7.5 cm
∴ (c) is correct

Question 5.
For all λ ∈ R , the line (2 + λ)x + (3 – λ) y + 5 = 0 passing through a fixed point, then the fixed point is _________. [1 Mark, June 2011]
(a) (1, 1)
(b) (-1, -1)
(c) (1, -1)
(d) (-1, 1)
Answer:
(b)
Tricks : Go by choices
For option (b) Point (-1 ; -1) satisfies the eqn.
LHS = =(2 + λ)x + (3 – λ)y + 5
or (2 + 2)(-1) + (3 – 2)(-1) + 5
= -2 – λ – 3 + λ + 5 = 0 = RHS.
∴ (b) is correct

Question 6.
If kx – 4 = (k – 1).x which of the following is true. [1 Mark, Dec. 2013 ]
(a) x = -5
(b) x = -4
(c) x = -3
(d) x = 4
Answer:
(d) is correct kx – 4 = (k – 1) x
or kx – 4 = kx – x
or -4 = -x
∴ x = 4

Question 7.
If the equations kx + 2y = 5, 3x + y = 1 has no solution then the value of k is: [1 Mark, Dec. 2013]
(a) 5
(b) 2/3
(c) 6
(d) 3/2
Answer:
(c) is correct kx + 2y = 5
3x + y = 1
They have no soln. (given) \(\frac{k}{3}=\frac{2}{1} \neq \frac{5}{1}\) ⇒ -k = 6

Question 8.
The equation x + 5y = 33; \(\frac{x+y}{x-y}=\frac{13}{3}\) has the solution (x,y) as: [1 Mark, Dec. 2014]
(a) (4, 8)
(b) (8, 5)
(c) (4, 16)
(d) (16, 4)
Answer:
(b) is correct
Tricks: Go by choices
For LHS = x + 5y = 8 + 5 × 5 = 33
and \(\frac{x+y}{x-y}+\frac{8+5}{8-5}=\frac{13}{3}\)
Clearly (b) satisfies both eqns.

Question 9.
The age of a person is 8 years more than thrice the age of the sum of his two grandsons who were twins. After 8 years his age will be 10 years more than twice the sum ofthe ages of his grandsons. Then the age of the person when the twins were bom is: [1 Mark, June 2015]
(a) 86 yrs
(b) 73 yrs
(c) 68 yrs
(d) 63 yrs
Answer:
(b) Let age of 1st grandson = x
∴ Person’s Age = P = 3(x + x) + 8
P = 6x + 8
After 8 years P + 8 = 2 [x + 8 + x + 8] + 10 = 2(2x+ 16)+ 10
or 6x + 8 + 8 = 4x + 32 + 10
or 2x = 42 – 16 =26
∴ x = 13
∴ Age of person when grandsons were born = 6x + 8 – x = 6 × 13 + 8 – 13 = 73
(b) is correct

Question 10.
In a school number of students in each section is 36. If 12 new students are added, then the number of sections are increased by 4 and the number of students in each section becomes 30. The original number of section at first is: [1 Mark, June 2015]
(a) 6
(b) 10
(c) 14
(d) 18
Answer:
(d); Let original No. of sections = x
Total students = 36x
Again Qts.
36x + 12 = (x+4).30
or 36x + 12 = 30 x + 120
or 6x= 108 ⇒ x = 18
Tricks: Go by choices

Question 11.
A person on a tour has ₹ 9600 for his expenses. But the tour was extended for another 16 days, so he has to cut down his daily expenses by ₹ 20.The original duration of the tour had been ? [1 Mark, June 2015]
(a) 48 days
(b) 64 days
(c) 80 days
(d) 96 days
Answer:
(c); Let No. of tour days = x
∴ Expense per day = \(\frac{9600}{x}\)
Now Expense per day = \(\frac{9600}{x+16}\)
From \(\frac{9600}{x}-\frac{9600}{x+16}\) = 20
Tricks Go by choices
From here we get
For (c) LHS
\(\frac{9600}{80}-\frac{9600}{80+16}\) = 20 RHS
(c) is correct
Do by Calculator

Linear Equations – CA Foundation Maths Study Material

Question 12.
If 2x+y = 22x-y = √8 then the respective values of x and y are _________. [1 Mark, June 2016]
(a) 1, \(\frac{1}{2}\)
(b) \(\frac{1}{2}\), 1
(c) \(\frac{1}{2}\), \(\frac{1}{2}\)
(d) None of these
Answer:
(a) is Correct. 2x+y= 22x-y = √8 = \(\sqrt[2]{2^3}\) = 23/2
∴ x + y = \(\frac{3}{2}\) (1)
2x – y = \(\frac{3}{2}\) (2)
Tricks: Then Go by Choices
(a) satisfies (1) & (2) both.

Question 13.
Let E1, E2 are two linear equations in two variables x and y .(0,1) is a solution for both the equations E1 & E2 (2, -1) is a solution of equation E, only and (-2, -1) is a solution of equation E2 only, then E1, E2 are _________. [1 Mark, June 2016]
(a) x = 0, y = 1;
(b) 2x – y = -1, 4x + y = 1
(c) x + y = 1, x – y = -1
(d) x + 2y = 2, x + y = 1
Answer:
(c) is correct.
Tricks: Go by Choices
(0 ; 1) satisfies E1 & E2 both
(2,-1) satisfies 1st Eqn. 2 – 1 = 1 (True)
But (-2 ; -1) also satisfies E2
i.e. -2 -(-1) = -1 (True)

Question 14.
Particular company produces some articles on a day. The cost of production per article is ₹ 2 more than thrice the number of articles and the total cost of production is ₹ 800 on a day then the number of articles is : [1 Mark, Dec 2016]
(a) 16
(b) 14
(c) 18
(d) 15
Answer:
(a) is correct.
TRICKS : Go by choices Let (A) is correct.
So, cost per unit = 800/16 = ₹ 50
It is 2 more than 3 times of 16.
(as given in Qts.)

Question 15.
The sides of equilateral triangle are shortened by 3 units, 4 units, 5 units respectively then a right angle triangle is formed. The side of the equilateral triangle was: [1 Mark, June 2017]
(a) 5
(b) 6
(c) 8
(d) 10
Answer:
Tricks : Go by Choices
For option (c)
1 st side of right angled Δ = 8 – 3 = 5
2nd side = 8 – 4 = 4
and 3rd side = 8 – 5 = 3
Here ; 5 ; 4 and 3 are making a right angled triangle.
So, 52 = 42 +32
Hence, option (c) is correct.

Question 16.
If \(\frac{3}{x+y}+\frac{2}{x-y}\) = -1 and \(\frac{1}{x+y}-\frac{1}{x-y}=\frac{4}{3}\) then (x, y) is: [1 Mark, June 2017]
(a) (2, 1)
(b)( 1, 2)
(c) (-1,2)
(d) (-2, 1)
Answer:
Tricks: Go by Choices
Option (B)
\(\frac{3}{1+2}+\frac{2}{1-2}\) = -1 (True)
\(\frac{1}{1+2}-\frac{1}{1-2}=\frac{1}{3}+1=\frac{4}{3}\) (True)
So; option (B) is correct.

Question 17.
The line 3x + 2y = 6 intersects the line 3 x – y = 12 in _________ quadrant: [Dec.-2017]
(a) 1st
(b) 2nd
(c) 3rd
(d) 4th
Answer:
(d), Eqn. (1) – Eqn. (2); we get
Linear Equations – CA Foundation Maths Study Material 1
From (1); 3x = 6 – 2y = 6 – 2(-2) = 10
∴ x = \(\frac{10}{3}\)
∴ Co-ordinate of the point of intersection
= (x, y) = (\(\frac{10}{3}\), -2)
It is in 4th Quadrant.

Linear Equations – CA Foundation Maths Study Material

Question 18.
If 2x+y = 22x-y = √8, then the respective values of x and y ……….. [1 Mark, May 2018]
(a) 1, \(\frac{1}{2}\)
(b) \(\frac{1}{2}\), 1
(c) \(\frac{1}{2}\), \(\frac{1}{2}\)
(d) None
Answer:
(a)
2x+y = 22x-y = √8 = (23)1/2
= 23/2
Tricks:- Go by Choices (GBC)
(a) 21+\(\frac{1}{2}\) = 2\(\frac{3}{2}\) = RHS and 22×1-\(\frac{1}{2}\) = 2\(\frac{3}{2}\) = RHS
∴ (a) is correct

Question 19.
If \(\frac{3}{x+y}+\frac{2}{x-y}\) = -1; \(\frac{1}{x+y}-\frac{1}{x-y}=\frac{4}{3}\); then (x, y) is: [1 Mark, May 2018]
(a) 2, 1
(b) 1, 2
(c) -1, 2
(d) -2, 1
Answer:
(b) is correct
Tricks: Go by choices.
Linear Equations – CA Foundation Maths Study Material 2

Question 20.
If the sides of an equilateral triangle are shortened by 3 units , 4 units and 5 units respectively and a right triangle is formed then the sides of an equilateral triangle is: [1 Mark, May 2018]
(a) 6 units
(b) 7 units
(c) 8 units
(d) 10 units
Answer:
(c) is correct.
Tricks:- Go by Choices.
Check for option (a).
1st Side = 6 – 3 = 3
2nd Side = 6 – 4 = 2
3rd Side = 6 – 5 = 1
But 12 + 22 ≠ 32
[Note Try to do it mentally]
So (a) is False.
(c) 1st Side = 8 – 3 = 5
2nd Side = 8 – 4 = 4
3rd Side = 8 – 5 = 3
But 32 + 42 = 52 (True)
(Pythagoras Formula)
(c) is correct.

Question 21.
A number consists of two digits such that the digit in one’s place is thrice the digit at ten’s place. If 36 be added then the digits are reversed. Find the number: [1 Mark, June 2019]
(a) 62
(b) 26
(c) 39
(d) None
Answer:
(b)
Tricks :- Go by choices
(a) 62 → 2 ≠ 3 × 6 (False)
and 62 + 36 = 98 ≠ 26 (False)

(b) 26 Clearly 6 = 3 × 2 (True)
and 26 + 36 = 62 (Orders of digits reversed)
So; (b) is correct.