DPM 96

A to E
A. Words along with their meaning, Pronunciation and usage

Factor cost /ˈfaktə/ /kɒst/

[Noun] The cost of an item of goods or a service in terms of the various factors which have
played a part in its production or availability, and exclusive of tax costs.

Usage – Subtracting each sector's intermediate consumption from gross output gives the GDP
at factor cost.

Factory price /ˈfakt(ə)ri/ /prʌɪs/

[Noun] The prices charged by producers to wholesalers and retailers.

Usage – Factory prices can be a leading indicator of consumer price inflation.

FDI (Foreign Direct Investment)

[Noun] Investing directly in production in another country, either by buying a company there or
establishing new operations of an existing business.

Usage – Host countries often try to channel FDI investment into new infrastructure and other
projects to boost development.

Financial Instruments /fʌɪˈnanʃ(ə)l,fɪˈnanʃ(ə)l/ /ˈɪnstrʊm(ə)nt/

[Noun] Certificate of ownership of a financial asset, such as a bond or a share.

Usage – Legal frameworks are required to make a financial instrument acceptable.

Flotation /fləʊˈteɪʃ(ə)n/

[Noun] The process of offering a company's shares for sale on the stock market for the first
time.

Usage – The company is protected from a hostile takeover for five years following flotation.

Hawala /haˈwɑːlə/

[Noun] A traditional system of transferring money used in Arab countries and South Asia,
whereby the money is paid to an agent who then instructs an associate in the relevant country
or area to pay the final recipient.

Usage – To move large sums of money, they can avoid the banking system by using hawala
money movers or couriers.

Origin – from Arabic ḥawāla, literally ‘assignment, bill of exchange’.

Hedge /hɛdʒ/

[Noun] A way of protecting oneself against financial loss or other adverse circumstances.

Origin – index-linked gilts are a useful hedge against inflation.

Hot money /hɒt/ /ˈmʌni/

[Noun] capital which is frequently transferred between financial institutions in an attempt to

maximize interest or capital gain.

Usage – Hot money left the national banks as interest rates fell.

Hypothecate / haɪˈpɒθ ɪˌkeɪt/

[Noun] Earmarking taxes for a specific purpose.

Usage – He had no power to hypothecate any part of the public revenue.

Hysteresis /ˌhɪstəˈriːsɪs/

[Noun] the phenomenon in which the value of a physical property lags behind changes in the
effect causing it, as for instance when magnetic induction lags behind the magnetizing force.

Usage - Economists have suggested that some unemployed people, especially the long-term
jobless, can display hysteresis.
B. RC Passage (with Link)

Article 1: https://aeon.co/essays/why-keeping-bees-means-thinking-about-landscape-as-a-
system

Summary : Wild bees are important pollinators too but, because their role is less understood,
their situation is far more perilous. In Ancient Rome, Pliny the Elder described hives built from
small pieces of transparent 'mirror-stone'; in the 17th century, the English writer John Evelyn
described a highly decorated octagonal hive with multiple tiers adorned with little dials, statues
and weather vanes. A century or so later came François Huber's Leaf Hive, a box of wooden
frames that looked more like a book than a place for a colony of bees. Getting a window on the
interior life of another creature is a curious experience.

Article 2: https://aeon.co/essays/why-care-and-the-scare-are-inseparable-when-you-love-
someone

Summary : The human brain, with its ancient and advanced, automatic and controlled, bottom-
up and top-down components, affords a massive expansion of love. With such complex
neurobiology underlying human love, we fall right back into the human condition. Here is the
schism: the extensive brain structures that enable the abstraction of love beyond the here and
now - giving meaning to human suffering, inspiring resilience in the face of trauma, and enabling
humans to transcend death by acts of kindness - are still connected via multiple ascending and
descending projections to the ancient oxytocin-amygdala-dopamine triangle. Human neonates
selectively attend to the human face, humans communicate affectionately in a face-to-face
position, and humans are unique in their ability to synchronise via coordination of facial signals
without physical touch. Is there a solution to the human condition? Given that human love is
layered over blind forces that react automatically to the slightest sign of danger, is there any
chance for redemption, or are we bound to endless cycles of aggression and destruction? While
the neuroscientific programme of the human brain is couched in an evolutionary framework, the
grand theory of the biological sciences has its limits as a singular window into the human
condition.

Article 3 : https://aeon.co/essays/how-georg-simmel-diagnosed-what-makes-city-life-distinctly-
modern

Summary : Take the opening lines of Georg Simmel's essay 'The Metropolis and Mental Life'.
The deepest problems of modern life derive from the claim of the individual to preserve the
autonomy and individuality of his existence in the face of overwhelming social forces, of
historical heritage, of external culture, and of the technique of life. Instead of seeking extremes
in the mountains of Sils Maria, Simmel found them in the metropolitan crowd, where one can
feel the uniquely modern loneliness of passing a thousand faces without recognising a friend.
As his father had died while Simmel was young, he was appointed a guardian who owned a
music publishing house and who left Simmel a considerable inheritance, financially securing his
intellectual pursuits. As Simmel argues in his essay 'The Adventure', an adventurer is someone
who styles his life around qualitative time. In his final book, The View of Life, Simmel abandoned
his earlier relativism in favour of a philosophy of life. Instead, Simmel suggested that life itself is
the genuine source of all transcendent values.

Article 4 : https://aeon.co/essays/the-idea-of-disposability-is-a-new-and-noxious-fiction

Summary : In her book Recycling Reconsidered, the waste policy expert Samantha MacBride
lambasts what she calls 'pure every-little-bit-helps-ism'. Why do you always export your waste to
my country? Why don't you take care of your own waste? Why do we have to feel the impact of
your waste? In Indonesia right now the river is very dirty and smelly. Its promises of plenty lull
consumers in rich countries into imagining goods without waste - a world metabolism operating
at peak efficiency. In real life, most of San Francisco's waste - whether sewage or recycling,
whether from construction, diesel emissions or the toxic and radioactive legacy of our decades
as a naval hub for Pacific nuclear testing - ends up in Bayview-Hunters Point, a neighbourhood
ignored by the city's elite, whose prosperity depends on treating the community as a dumping
ground. We in the wealthy world must strive to produce less waste, to find ways of fixing things,
to repurpose materials that we used to discard.

Article 5 : https://www.sciencedaily.com/releases/2020/08/200808085754.htm

Summary : A new publication on the impacts of deep-seabed mining by 13 prominent deep-sea

biologists seeks to dispel scientific misconceptions that have led to miscalculations of the likely
effects of commercial operations to extract minerals from the seabed.
C. RC Passage (with Questions)

Astronomers are busier than ever:” I look at our students and there’s less understanding and
more rushing…we’re caught up in this rat race and I don’t know what we are chasing”.
Biologists too : “Technology has made me one of the most highly paid, under-talented
secretaries on campus. I have to do a lot more than I’ve ever had to do before”.

The quotes are representative of academic scientists these days, thanks not least to the
unrelenting pressures to publish.

In the two major scientific disciplines covered by the study - biology and astronomy -peer
reviewed publications continue to be the primary markers of academic achievement. But the
survey also found regrettable disparities between the two disciplines in less formal peer to peer
communication . The astronomy community effectively publishes by preprint. The process of
formal publication is seen as a necessary step for the record , and formal peer review add some
value. But the preprint server arXiv.org is a highly trusted forum by which one can deposit the
original version of a paper ,thereby logging one‘s priority in a competitive area ,and also receive
private comments by email that can complement the formal peer review process. Respondents
judge the level of error in astronomy preprints to be low.

Biologists tend to avoid such open sharing of first drafts. They acknowledge that the vastness of
their community and its acute competitiveness make them reluctant to act in such a trusting
fashion. That's regrettable ,because it seems from astronomers’ accounts that open sharing on
preprint servers improves the standards of the literature.

But the position in arXiv is about as far as the scientific openness of even astronomers goes.
The discussion that ensues is private. Researchers see little to be gained from open discourse
before or after publication . Not only are they busy ,but there is no credit to be gained ,and some
risk if one makes an erroneous or critical statement in public. What is more ,astronomers and
biologists register active discouragement of blogging -a form of communication that in their eyes
carries no stamp of reliability or prestige .
However ,the astronomers and biologists interviewed in a survey expressed strong support for
outreach and engagement ,stating that they enjoyed giving public talks and contributing
opinions to mass media. Here, surely ,is an opportunity for blogging -or at least ,for consistently
displaying one's research in comprehensible fashion on a lab website - to acquire value and
peer recognition.

Institutions need to recognize and encourage such outreach explicitly - not just as a matter of
routine ,but specifically highlight and promote it at times of relevant public debate or when the
interest and voices of scientists need to be promoted.

Q1) It can be inferred from the passage that

(A) while astronomers are willing to share their findings ,biologists are secretive and afraid
of competition.
(B) the author believes that sharing and discussion with peer group is essential for
biologists an astronomers to make any real progress in their respective fields.
(C) unlike biologists, astronomers enjoy interacting with the public through mass media
(D) the continuous pressure on scientists to publish often leaves them with little time to
pursue real research.
(E) while biologist and astronomers support public interaction in theory ,in practice they are
reluctant to do so.

Q2) Which of the following aboutarXiv.org is NOT TRUE?

(A) It is a preprint server on which astronomers post their findings to get feedback from their
peers.
(B) The website shows that astronomers and biologists are interested only in
communications that bestow credibility or honor.
(C) Posting at this site helps a scientist to establish that he was the first to come up with the
idea.
(D) Acute competitiveness among biologists makes them hesitant to share their findings
through this website.
(E) Postings on this website do not offer any honor to the scientist doing so
Q3) The passage is primarily concerned with

(A) comparing astronomers and biologists to bring out the differences in their approach to
publishing their work.
(B) showing why scientists must share their findings with their peers for achieving
progress.
(C) highlighting the need to ease pressure on scientists to enable them to make true
discoveries.
(D) encouraging scientists to share their findings and be collaborated with others in the
field.
(E) pointing to the need for scientists to share their findings with peers and reach out to the
public.

Q4) The passage suggests which of the following about academic scientists ?

(A) Academic scientists are reluctant to say anything as they would run the risk of being
humbled or humiliated.
(B) Blogging is the only way for academic scientists to interact with the public or publicize
their work.
(C) The pressure on academic scientists has led to the paradoxical situation where they
achieve less than what they otherwise would.
(D) Academic scientists -unlike those in other fields – are sincere and devoted to their
calling.
(E) The pressure to excel makes scientists secretive and prevents collaborative work which
would lead to more or better discoveries or inventions.
D. Quantitative Aptitude

Directions for Q.1 and 2:

Five horses- Red, white, Grey, Black and spotted participated in a race. As per the rules of the
race, the persons betting on the winning horse get four times the bet amount and those betting
on the horse that came in second get thrice the bet amount. Moreover, the bet amount is
returned to those betting on the horse that came in third and the rest loose the bet amount. Raju
bets Rs 3000, Rs 2000 and Rs 1000 on red, white and black horses respectively and ends up
with no profit and no loss.

Q.1 Which of the following cannot be true?

(A) At least two horses finished before spotted.
(B) Red finished last.
(C) There were three horses between black and spotted.
(D) There were three horses between white and red.

Q.2 Suppose, in addition, it is known that grey came in fourth. Then, which of the following
cannot be true?
(A) Spotted came in first (B) Red finished last
(C) White came in second (D) Black came in second

Q.3 Rahim plans to drive from city A to station C, at the speed of 70 kmph, to catch a train
arriving there from B. He must reach C at least 15 minutes before the arrival of the train. The
train leaves B, located 500 km south of A, at 8 am and travels at a speed of 50 kmph. It is
known that C is located between West and North-West of B, with BC at 60° to AB. Also, C is
located between South and south-west of A with AC at 30° to AB. The latest time by which
Rahim must leave A and still catch train is closest to__
(A) 6:15 am (B) 6 : 30 am (C) 6: 45 am (D) 7:00 am
Q.4 Suppose, the seed of any positive integer n is defined as follows
seed (n) = n, if n < 10
= seed (s(n)), otherwise
where s(n) indicates the sum of digits of n. For example,
seed(7) = 7, seed (248) = seed(2+4+8) = seed(14) = seed(1+4) = seed(5) = 5
How many positive integers n, such that n < 500, will have seed (n) = 9?
(A) 39 (B) 72 (C) 81 (D) 55

Q.5 ABCD is a cyclic quadrilateral. BF and DE are the angle bisectors of angle ABC and angle
ADC respectively? If EF =14 cm then find the radius of the circle?

(A) 7 cm (B) 5 cm (C) 10 cm (D) None of these

Q.6 For a regular octagon inscribed in a circle of radius 1 cm, the product of the distance from a
fixed vertex to the other seven vertices is___
(A) 10 (B) 15 (C) 16 (D) 8

Q.7. The least common multiple of N distinct natural numbers is 7560. Which of the following
best
describes N?
(A) 1≤ N ≤ 10 (B) 1≤ N < 27 (C) 1< N ≤48 (D) 1≤ N ≤ 64
Q.8 In how many ways Mr. Gagan can distribute 6 different books among 3 student such that at
least one of the student gets exactly one book
(A) 180 (B) 360 (C) 196 (D) 496

Directions for Q.9 and 10 :

Let S be the set of all pairs (i,j) where 1 ≤ I < j ≤ n and n ≥ 4. Any two distinct members of S are
called “friends” if they have one constituent of the pairs in common and “enemies” otherwise.
For example, if n =4 , then S = {(1,2), (1,3), (1,4), (2,3), (2,4), (3,4)}. Here, (1,2) and (1,3) are
friends, (1,2) and (2,3) are also friends, but (1,4) and (2,3) are enemies.?

Q.9 For general n, how many enemies will each member of S have?

(A)
2

1 2
n  7n + 14  (B)
2

1 2
n  3n  2  (C)
2

1 2
n  5n + 6  (D) 2n-7

Q.10 For general n, consider any two members of S that are friends. How many other members
of S will be common friends of both these members?

(A)
2

1 2
n  7n + 16  (B)
2

1 2
n  5n + 8  (C) n-2 (D)
1
2
nn  3
E. DILR – 1 Set

Directions for Q. 1 to 4 :

UBS, an investment company, a part of its assets in stocks of four companies- A, B, C and D.
Each of these companies belonged to a different sectors- capital goods, real estate, oil and gas
and pharma, in no particular order. At the time of investment, the price of each stock was Rs.
1000. UBS purchased one lakh shares of each of these companies. It was expecting returns of
20%, 10%, 30% and 40% from the stock of companies A, B, C and D respectively. Returns are
defined as the change in the value of the stock after one year, expressed as a percentage of the
initial value. During the year, two of these companies announced extraordinarily good results.
One of the two companies belong to the capital goods or real estate sector, while the other
belonged to either the oil and gas or the pharma sector. As a result the return on the stocks of
these two companies was higher than the initially expected returns. For a company belonging to
the capital goods or the real estate sector with extraordinary good results, the returns were
twice that of the initially expected returns. For the company belonging to oil and gas or the
pharma sector, the returns on announcement extraordinarily good results were only one and a
half times the initially expected returns. For the remaining two companies, which did not
announce extraordinarily good results, the returns realised during the year were the same as
initially expected.

Q.1 What is the minimum average returns UBS would have earned during the year?
(A) 30% (B) 31.25% (C) 32.5% (D) Cannot be determined

Q.2 If UBS earned a 35% returns on average during the year, then which of these statements
would necessarily be true?
I. Company A belonged either the oil and gas or to pharma sector.
II. Company B did not announce extraordinarily good results.
III. Company A announced extraordinarily good results.
IV. Company D did not announce extraordinarily good results.
(A) only I & II (B) Only II & III (C ) only III and IV (D) only II and IV
Q.3 If UBS earned a 38.75% returns on average during the year, then which of these
statements would necessarily be true?
I. Company C belonged either to oil and gas or to the pharma sector.
II. Company D belonged either to the oil and gas or to the pharma sector
III. Company A announced extraordinarily good results.
IV. Company B did not announce extraordinarily good results.
(A) Only I & II (B) Only II & III (C) Only I & IV (D) Only II & IV

Q.4 If company C belonged to the capital goods or the real estate sector and announce
extraordinarily good results, then which of these statements would necessarily be true?
I. UBS earned not more than 36.25 % returns on the average.
II. UBS earned not less than 33.75% returns on average.
III. If UBS earned 33.75% returns on average, company A announced extraordinarily good
results.
IV. If UBS earned 33.75% returns on average, company B belonged either to oil and gas or to
pharma sector.
(A) Only I & II (B) Only II & IV (C ) Only II & III (D) Only III & IV