Question
A statement is given, followed by two assumptions I and
II. You have to consider the statement and two assumptions and decide which of the assumption(s) is/are implicit. Statement: Simon has applied for a loan of Rs. 77000 from his bank to pay for his son's educational expenses. Assumptions: I. The bank will reject the loan because it has a policy of not awarding loans for education purpose. II. Simon has failed to arrange for the money from all other sources available to him.Solution
Assumption I is not implicit since we have no idea how the bank will respond. Assumption Il is not implicit because we do not know whether Simon has approached other people for this loan. Hence, the correct answer is (D).
What is the minimum paid-up capital required for a private company under the Companies Act, 2013?
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