The document provides explanations and worked examples for reasoning questions that may appear on competitive examinations. It addresses logic, math, and general knowledge problems involving numbers, sequences, ratios, and family relationships. The final sections define various tax-related terms and identify the relevant sections of India's income tax acts.

1. REASONING FOR COMPETITIVE EXAMINATIONS by : DR. T.K. JAIN AFTERSCHO ☺ OL centre for social entrepreneurship sivakamu veterinary hospital road bikaner 334001 rajasthan, india www.afterschoool.tk mobile : 91+9414430763

2. 1mark for correct and .25 for incorrect, total score 80, 30% come from logic, half of all the correct answer is from GK, number of correct answers in logic is 1/4 th of total number of questions?

3. What are the last two digits of 7^2008? We know that the power 7 gives us 1 at the end, when the power is in multiple of 4. similarly the 2 nd last digit is 0

4. How many integers greater than 999 but not greater than 4000 can be formed with the digit 0,1,2,3,4, if repeatitions are allowed? For the first digit, we have only 4 options (0 cannot be used) , for next digits, we have 5 options (0,1,2,3,4) thus answer is : 4*5*5*5 = 500 , but the numbers greater than 4000 have to be deducted. They are : 1*5*5*5 = 125 thus answer 500-125+1 = 376 answer

5. What is the number of distinct term in the expansion of (A+B+C)^20? 231 answer

6. < Means is brother of , > means is sister of, + means is father of , # means is mother of , @ means is son of, $ means is daughter of. You are given : M is Son of P & R and S is maternal uncle of M which of the following seems to be correct? Options : 1. M<P> [email_address] 2. S< P#M@R 3. R>S<M#R 4. M>R< [email_address] answer : 2 nd

7. A group of 630 children is arranged in a row for photograph, each row contains 3 fewer children then the row in front of it, what number of row is not possible ? 3,4,5,6,7 Answer :6 in this case the mid value is 105, thus other values are 1.5 or 4.5 points away, which is not possible.

8. The number of solutions of 2X+Y = 40, where both X and Y are positive integers and X <=Y Options : 7,13,8,20,14 possible values of Y 14 to 38 with gap of 2, = 13 values

9. F(x)=Max(2x+1,3-4x), where X is any real number, then the minimum possible value of F(x)? Options : 1/3, 1/2, 2/3, 4/3, 5/3 hint : solve from options, answer = 5/3

10. 10 years ago age of the members of a joint family of 8 persons added upto 231 years, 3years later, one member died at 60 years and a child was born in the same year, after another 3 year, same got repeated, what is the current average of this family? 231 + 80 – 60-60 =191/8=24 answer

11. A confused bank teller transposed the rupees and paise when he cashed a cheque for Sunil, giving rupees instead of paise and vice versa, after buying a tofee for 50 paise, Sunil noticed that he had exactly 3 times as much as the amount of the cheque? What was the cheque amount? Answer = 18.56 Rupees 18 and paise 56

12. In a four digit number the sum of first 2 digits is equal to the last 2 digits. The sum of the first and last digit is equal to 3 rd digit. The sum of 2 nd and 4 th digit is twice the sum of other two digit, what is the number? Answer : 1854

13. A shop stores X kg rice, the first customer buys half the quantity,+.5 Kg of rice, later 2 more customers take like this, thereafter no rice is left in the shop, what is X ? Answer : 7

15. Rectangular paper is halved at the mid point of longer side results in 2 rectangles, whose longer and shorter sides are in the same proportion as the original. If shorter side of original paper is 2 feet, what is the area of smaller rectangular paper? X:2 :: 2: x/2 X = 2* sqrt(2) area of smaller paper = 2 * sqrt(2)/2 = sqrt(2)

16. Each family has at most 2 adults, no family has fewer than 3 children, in the families, there are more adults than boys, and number of boys more than girls, and more girls than families, what is minimum number of families? Answer : 3 families, 4 girls, 5 boys, 6 adults.

17. The sum of 4 consecutive two digit odd numbers when divided by 10 becomes a perfect square number, which of the following may be possibly one of these 4 numbers? Options : 21,25,41,67,73 answer = try with 41, you get 37,39,41,43 as the answer, with total 160 which gives 16 as perfect square

18. WHAT IS CAPITAL RECEIPT? Receipt which are of the nature of fixed capital are called capital receipt

19. Making coffee Rule 7(b) – 40% is taxable

20. WHAT IS AOP AS PER INCOME TAX??? Association of persons’ has not been defined in the Income-tax Act. However in the case of CIT v. Indira Balkrishna [(1960) 39 ITR 546] the Supreme Court has defined it as: “Association of persons” means an association in which two or more persons join in a common purpose or common action to produce income, profits or gains.

21. BCTT? Banking cash transaction tax

22. What is revocable transfer? 1. it contains any provision for the re-transfer directly or indirectly of the whole or any part of the income or assets to the transferor; or 2. it, in any way, gives the transferor a right to reassume power directly, or indirectly over the whole or any part of the income or assets. (sec.63)

23. FBT Fringe benefit tax

24. WHAT IS REVENUE RECEIPT? Receipts which are of the nature of circulating capital are called capital receipt Circulating capital is that part of the capital which is turned over in the business and which ultimately results in profit or loss.

25. Machinery in the hands of a manufacturer is .... Fixed capital

26. WHAT IS VRS PAYMENT – CAPITAL OR REVENUE? Any compensation received for termination of employment or modification of the terms of employment would fall within the meaning of a profit in lieu of salary and consequently taxable as salary income. - so it is revenue receipt

27. profits and gains arising from the sale or other transfer of a capital asset are taxable as Capital gain tax

28. Subsidies and grants received from the government would be Revenue receipt

29. Compensation for termination of a sole selling agency is a Capital receipt

30. For debenture holder the premium on redemption or the discount on issue of the debentures by the company would be a Capital receipt

31. Royalties are taxable as Income from other sources

32. Any compensation received for termination of managing agency or other contractual relationship in relation to the management of whole or substantially the whole of the affairs of a company or the modification of the terms and conditions relating thereto would be taxable as Income from business

33. Section 28 (ii)(c) is about Income from agency buesiness

34. An employee director of a company was paid Rs. 1,75,000 as a lump sum consideration for not resigning from the directorship. Revenue receipt

35. What is sec. 2(9) Assessment year

36. What is 2(24)? Definition of income

37. instead of receiving royalty year by year, we received it in advance in lump sum .. It is still revenue receipt

38. What is section 294? Levy of income tax

39. Sales-tax collected from the buyer of goods. Revenue receipt

40. We received Rs. 2,00,000 as compensation from CD & Co. for premature termination of contract of agency. Capital receipt

41. Value of perqs or profit in lieu of salary is taxable under which section? Section 17 (3)

42. Payment of Rs. 50,000 as compensation for cancellation of a contract for the purchase of a machinery with a view to avoid an unnecessary expenditure. Capital receipt

43. What was law before income tax act 1962 income tax act 1922

44. Income from trade business is as per section no... 28

45. DEEMED PROFIT IS AS PER SECTION... 41 & 59

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47. Solution