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"Punch Of The Week" Team Members |
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| This Week's Punches |
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Critical Reasoning Senator: Some economists believe that our coun- try's continued growth requires a higher level of homeownership than we currently have. A recent proposal would allow individuals to remove as much as $20,000 from an IRA, SEP IRA, and Keogh without penalty if the money went to the purchase of a primary residence. Supporters of this proposal claim that its implementation would increase revenues for the construction industry as well as tax revenues for city, county, and state governments. The passage as a whole provides the most support for which one of the following conclusions? (A) The proposed incentive is likely to attract additional money into the homebuying market. (B) Supporters of this proposal have some motive other than their expressed aim. (C) The government has no effective means of influencing the amount of money that people are willing to put into savings accounts. (D) A program that resulted in an increase of tax revenues would be greeted negatively by city, county, and state officials. (E) The economy is in danger unless some incentive to increased homeownership can be found to stimulate growth. |
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Problem Solving Four brothers Adam, Bill, Charles and David together contributed certain amount of money and purchased a car. The contribution made by Adam is half that of the total contribution made by the other three brothers, contribution made by Bill is one-fourth of the total contribution made by the other three brothers and the contribution made by Charles is two-third of the total contribution made by the other three brothers. If the total price of the car is 9900 $, find the contribution made by David. A. 600 $ B. 660 $ C. 680 $ D. 700 $ E. None of these |
Click here for last week's Punch and explanatory answers for the same
Posted on 26-June-09
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So,folks here are the correct answers Critical Reasoning The correct answer is A. (A) Yes. Since one of the most difficult problems for many new homeowners is getting the down payment, this would solve that problem. (B) No. This is speculation. (C) No. The claim is too broad. The passage does not imply that the government has no means of influencing the savings rate. In fact, this proposal might increase savings. (D) No. On the contrary, the opposite is likely true. (E) No. The claim that the economy will be endangered is too strong. |
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Problem Solving The correct answer is B. Given that A:(B+C+D)= 1:2. Hence A contributed 1/3rd of the total price. Given B:(A+C+D)=1:4 Hence B contributed 1/5th of the total price. Given C:(A+B+D)=2: Hence C contributed 2/5th of the total price. Thus the contribution made by A,B and C= 1/3+1/5+2/5=14/15 So, the remaining 1/15th of the price is contributed by David. Hence David's contribution= 1/15×9900=660$. Click here for the next week's Punch |
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