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51.

Bankrupt is one who

A.	Is unable to sell things	B.	Is unable to purchase things
C.	Is visiting foreign universities now and often	D.	Surrenders all his assets to the court for distribution to his creditors and is unable to pay his debts

52.

A merchant who has debts of Rs. 43,250 has gone bankrupt and can pay of only 15 paise on the rupee. How much will his creditors receive?

A.	Rs. 4325.00	B.	Rs. 6487.50
C.	Rs. 8650.00	D.	Rs. 10812.50
E.	Rs. 36762.50

53.

An oligopoly in industry occurs where there are (is)

A.	Few sellers	B.	Few buyers
C.	One seller	D.	One buyer
E.	Both few sellers and few buyers

54.

If a reduction in prices increases revenue, then the demand curve is said to be

A.	Elastic	B.	Inelastic
C.	Unitary	D.	Either elastic or inelastic
E.	Not determinable from given data

55.

The mortgage market is generally highly sensitive to

A.	The stock market	B.	The yield on common stocks
C.	A drop in pension fund assets	D.	A drop in deposits at saving in post offices
E.	A drop in deposits at commercial banks

56.

Among the following which is the best example of a short term capital gain?

A.	A motor-cycle sold at a marginal loss within a year of its purchase	B.	A house held by a real estate dealer for sale, the value of which has increased before purchase
C.	A pleasure car sold for more than what was paid for it within 4 months of the purchase	D.	A gift which is resold within six months of receipt
E.	None of the above

57.

A man sells two houses for Rs. 24000 each. He maks 20% of the cost price on the first, but on the second he has a loss of 30% of the cost price. How much did he gain or loss by this transaction?

A.	Rs. 1500 gain	B.	Rs. 2000 loss
C.	Rs. 2000 gain	D.	Rs. 2500 loss
E.	Rs. 2500 gain

58.

A house costs Rs. 1000,000. Incidental expenses and taxes amount to Rs. 3600 a year. What rent per month must the owner receive to clear 6% of his investment?

A.	Rs. 600	B.	Rs. 650
C.	Rs. 700	D.	Rs. 750
E.	Rs. 800

59.

A factory is insured for 80% of its value at 5/12%. The premium is Rs. 500. What is the total value of the house?

A.	Rs. 120,000	B.	Rs. 150,000
C.	Rs. 180,000	D.	Rs. 220,000
E.	Rs. 240,000

60.

The advantage of cost plus pricing system is

A.	It ignores demand.	B.	It does not reflect the effect of competitors
C.	It over plays the precision of allocated costs	D.	It always yields profit
E.	It does not take into account the birth of potential competitors