Statement: The Bank of England's move to auction 25 metric tons of gold drew plenty of bidders looking for a bargain, but was criticized by major gold producers worldwide. Conclusions: I. The Bank of England should not auction gold which it possesses to keep steady international prices of gold. II. Bidders should quote higher gold prices to retain present value of gold in the international markets. MCQ with Answer and Explanation

Question

Statement: The Bank of England's move to auction 25 metric tons of gold drew plenty of bidders looking for a bargain, but was criticized by major gold producers worldwide.
Conclusions:
I. The Bank of England should not auction gold which it possesses to keep steady international prices of gold.
II. Bidders should quote higher gold prices to retain present value of gold in the international markets.

A. Both conclusions I and II follow

B. Only conclusion I follows

C. Neither conclusion I nor II follows

D. Only conclusion II follows

Answer: Option C

Solution (By JKSSB Mock Tests)

Neither conclusion follows. The statement merely reports the auction and the criticism; it does not logically lead to a 'should' statement about whether the auction should happen (I). Similarly, advice to bidders (II) is not a logical conclusion from the given information.

This question belongs to: Reasoning Statement and Conclusion

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Question #1

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Statements:
1. All laptops are computers.
2. Some computers are tablets.
3. All tablets are devices.
Conclusions:
I. Some laptops are devices.
II. Some computers are devices.
Which conclusion(s) logically follow?

A. Only conclusion II follows

B. Both I and II follow

C. Neither I nor II follows

D. Only conclusion I follows

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Correct Answer: Option A

Explanation:
There is no direct connection given between laptops and tablets/devices, so Conclusion I does not follow. Since some computers are tablets, and all tablets are devices, those computers must be devices. Thus, Conclusion II follows.

This question belongs to: Reasoning Statement and Conclusion