UGC NET COMMERCE SOLVED PAPERS 2017-19 - UGC NET COMMERCE June 2019

77. What is the probability that sum of outcomes on pair of dice is equal to 8?

  • Option : B
  • Explanation : The outcomes of favourable to the event ‘sum of two numbers is 8’ are (6, 2), (5, 3), (4, 4), (3, 5) and (2, 6). There are 5 in number:
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78. The essence of the law of diminishing returns is:

  • Option : B
  • Explanation : The law of diminishing marginal returns states that as more of a variable resource is combined with a given amount of another resource, marginal product eventually declines. The law of diminishing marginal returns is the most important feature of production in the short run.
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80. Following are the information for a house property:
Municipal value       :        Rs.4,50,000
Fair rental value      :        Rs.5,00,000
Standard rent          :        Rs.4,80,000
Actual rent               :        Rs.4,20,000
What is the gross annual value of the house property?

  • Option : A
  • Explanation : Step-1 : Higher of Municipal value and Fair Rent in this case it will be higher of 450,000 and 5,00,000, So it will be 5,00,000 (let us call it as A).
    Step 2 : Lower of A and Standard Rent so it will be lower of 5,00,000 and 4,80,000, So will be 4,80,000. (let us call it B)
    Step 3 : Higher of ‘B’ and Actual Rent, So it will be Higher of 4,80,000 and 4,20,000. So the GAV will be 4,80,000.
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