DPM 97

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

January Effect /ˈdʒanjʊ(ə)ri/ /ɪˈfɛkt/

[Noun] The January Effect is a perceived seasonal increase in stock prices during the month of
January.

Usage – Analysts generally attribute the cause of January Effect to an increase in buying, which
follows the drop in price that typically happens in December.

Joint Bond /dʒɔɪnt/ /bɒnd/

[Noun] A joint bond, or a joint-and-several bond, is one where two or more parties guarantee
interest and principal. In the case of default, the bondholders have the right to claim the assets
of all the issuing institutions, corporations, or individuals.

Usage – A joint bond reduces risk and borrowing costs.

Junior Debt /ˈdʒuːnɪə/ /dɛt/

[Noun] Junior debt is debt that has a lower priority for repayment than other debt claims in the
case of default.

Usage – Junior debt is important for investors in credit issuances from a firm.

Junk Bond /dʒʌŋk/ /bɒnd/

[Noun] a high-yielding high-risk security, typically issued by a company seeking to raise capital
quickly in order to finance a takeover.
Usage – The agencies are putting some companies on thin ice with ratings just barely above
junk bond status.

Junk Fees /dʒʌŋk/ /fiː/

[Noun] Junk fees are a series of charges that a lender imposes at the closing of a mortgage.

Usage – Junk fees are often unexpected by the borrower and not clearly explained by the
lender.

Laddering la·duh·ruhng

[Noun] In finance, the term “laddering” is used in a variety of ways depending on the industry. Its
most common usages are in relation to retirement planning where it refers to buying multiple
financial products of the same type—such as bonds or certificates of deposit (CDs)—each with
different maturity dates.

Usage – The practice of laddering can help investors manage reinvestment risk because as one
bond on the ladder matures, the cash is reinvested in the nearest bond on the ladder.

Layaway /ˈleɪəweɪ/

[Noun] a system of paying a deposit to secure an article for later purchase.

Usage – She finally picked up a coat she had on layaway.

Lien /liːn,ˈliːən/

[Noun] a right to keep possession of property belonging to another person until a debt owed by
that person is discharged.

Usage – They shall be entitled to a lien on any lot sold.

Loan – To – Value (LTV)

[Noun] Loan – To – Value (LTV) ratio is an assessment of lending risk that financial institutions
and other lenders examine before approving a mortgage.

Usage – Typically, assessments with high LTV ratios are higher risk and, therefore, if the
mortgage is approved, the loan costs the borrower more.

Loss Reserve

[Noun] A loss reserve is an estimate of an insurer’s liability from future claims it will have to pay
out on.

Usage – Loss reserves are typically composed of liquid assets.

B. RC Passage (with Link)

Article 1: https://www.thehindu.com/opinion/lead/india-needs-to-enact-a-covid-19-
law/article31529036.ece

Summary : This article argues that there is a need for ‘legislative leadership’ to revive the
economic, education and public health sectors of various states in the country. The author
raises questions about whether the Disaster Management Act has been effective in addressing
the threat of a pandemic and whether the archaic Epidemic Diseases Act facilitated the due
diligence and responsiveness that was necessary during this unprecedented crisis. Lamenting
the absence of a pro-active policy approach, the author calls upon the Union government to
promulgate ordinances to assist and empower states to overcome COVID-19.

Article 2: https://www.thehindu.com/news/national/coronavirus-lockdown-how-can-inter-state-
workers-be-protected/article31546299.ece

Summary : In the context of distress reverse migration of migrant workers due to the
coronavirus lockdown, this article examines whether the 1979 law on migrant workers should be
retained or whether it must be subsumed under the proposed Labour Code to ensure the
welfare and legal protection of workers. The article informs us that while the 1979 law regulates
the employment of inter-state migrants and their conditions of service, the proposed Code seeks
to consolidate laws relating to occupational safety, health and working conditions. The author
reveals that trade unions are in favour of enforcing existing laws rather than subsuming them
under a larger Code.

Article 3: https://aeon.co/essays/philosophy-at-war-nationalism-and-logical-analysis

Summary : In Bertrand Russell's now-legendary book Our Knowledge of the External World, he
sought to model a new 'scientific' method for doing philosophy that made the logical analysis of
propositions fundamental. Russell's suggestion is that ethical philosophy offers little more than
self-serving argument to justify nationalistic violence. For Russell, a crucial spark of the violence
was nationalism, and he regarded scientific philosophy as a tool for opposing it. Britain joined
the war four months before Bosanquet's attack on Russell, and politics was unavoidable at the
Aristotelian Society. One prominent critic has even suggested that, since anti-German sentiment
in Britain during the First World War resembled in irrational vitriol the anti-communist sentiment
during the McCarthy years in the US, the very founding of analytic philosophy itself - including in
the hands of Russell - was also tainted with a self-serving political quietism. Russell has often
been regarded as someone who wanted to rid philosophy of 'ethics'. Russell in fact developed
his own ethical theories; what he was most dismissive of was the specific kind of communitarian
approach to value advocated by neo-Hegelians such as Bosanquet, an approach Russell saw
as propping up the nationalist sentiments that had just exploded into a world war.

Article 4: https://aeon.co/ideas/for-a-child-being-carefree-is-intrinsic-to-a-well-lived-life

Summary : Is being carefree a special good of childhood? Is it something that confers meaning
on the life of a child, without doing the same for adults? Or do adults need to be more carefree,
and so be more like children, in order for their lives to go well? Most importantly, if carefreeness
is indeed a necessary precondition for a good life, why exactly is that so? Thinking about the
goods of parental love and education, I have realised that there is something special about
being carefree that makes it a necessary component of a well-lived childhood. Unlike an adult, a
child doesn't have the authority to endorse the valuable goods in her life, if positive emotions
towards these goods are lacking. A brain surgeon operating on the worst types of cancers
knows that the stakes in her job are too high for her to approach life in a carefree manner.
Children simply lack the requisite evaluative capacities to be able to endorse valuable projects
and relationships merely due to how well they fit within an overall life plan. The question now
arises: is it possible for a child to be not carefree in general yet still feel positive emotions
towards valuable projects and relationships? Work by psychologists such as Ed Diener,
professor emeritus at the University of Illinois, suggests that positive and negative emotions are
not independent from each other at any given point in time. A child who isn't carefree lacks the
mental space required for the enjoyment of all the good things in her life.
Article 5: https://www.sciencedaily.com/releases/2020/08/200813113157.htm

Summary : Although overhunting led to the demise of some prehistoric megafauna after the last
ice age, a new study found that the extinction of the woolly rhinoceros may have been caused
by climate change. By sequencing ancient DNA from 14 woolly rhinos, researchers found that
their population remained stable and diverse until only a few thousand years before it
disappeared from Siberia, when temperatures likely rose too high.
C. RC Passage (with Questions)

Despite the scandals over leaked emails at the University of Anglia ,UK ,and flawed data in the
most recent assessment from the intergovernmental panel on climate change ,the scientific
evidence for global warming remains strong . The question ,then ,is to what extent have the
controversies eroded the public's trust in climate science or ,worse ,in the scientists
themselves?

There has undoubtedly been some slippage. But a closer look at the data across multiple polls
show that ,broadly speaking ,the public trusts scientists ,believes in global warming and wants
governments to do something about it. The public seems to have done what the mainstream
media could not :it has kept the scandals in perspective. The scathing verbal attacks on climate
science and scientists are actually coming from a relative handful of critics , and they do not
reflect a broader resurgence of skepticism.

Yet few climate scientists are likely to take satisfaction in this news. For them, the real measure
of public trust is the level of political engagement on global warming: if people truly believe in
the science, then why have so few of them demanded action of their governments? Why is the
world still at loggerheads over climate changes?

The problem is that people assess information from any number of sources , not just scientists.
And people -politicians included -make decisions on the basis of self-interest and their own
hopes , fears and values ,which will not necessarily match what many researchers deem self-
evident.

The scientific community must recognize that the issues surrounding climate change resonate
with the public and politicians on many different levels. Facts do matter. Scientists must
continue to engage the public in plain language whenever possible, laying out the evidence for
climate change in a clear and compelling way. And they must provide policymakers in both the
public and private sectors with accurate, credible and timely information. But, given the
complexity of that evidence ,and the many uncertainties that remain ,scientists will be only as
persuasive as they are trusted -which means that preserving and cultivating the public's trust
must be the scientific community's top priority.

The science isn't complete and never will be, but it is sufficiently robust that broad conclusions
cannot be undermined by questions about any given datum point. From this perspective, the
fact that climate scientists can't predict exactly how bad the impacts might be could well be the
best argument for action.

Q1) The passage is primarily concerned with

(A) emphasizing the need for clarity in grappling with the issues regarding the environment.
(B) explaining the facts of climate change so the public lends wholehearted support to the
steps to mitigate its effects.
(C) describing the role of scientists in tackling the problems of global warming.
(D) pointing to the importance of winning public trust in dealing with the problems of climate
change.
(E) discussing the relationship between the scientific community and the public at large.

Q3) Regarding climate science ,the author opines that

(A) scientists will have to play a far greater role than politicians in launching a frontal attack
on global.
(B) winning public support is the only problem in facing the issue head-on.
(C) the intricacies and ambivalence of the problem makes it imperative for scientists to win
people's trust.
(D) scientists will be believed so long as they share a trusted bond with society.
(E) the far from simple nature of the problem does not lend itself to a solution.
Q3) In comparing the responses of the public to that of the media ,the passage says that

(A) the latter has been LED astray by hype and glamour and missed the Woods for the
trees.
(B) the relentless denouncement of climate science and scientists by the latter has
influenced the former.
(C) while the former is concerned with acting on the problem the latter is incapable of a
united stand.
(D) the cynicism of the former can be attributed to the irresponsible coverage of the issue
by the latter.
(E) the former has been much more successful than the latter in getting a true picture of
the situation.

Q4) the last Para

(A) views the inability of scientists to provide information that is timely.

(B) reiterates a point made in the first para and finds a basis for action.
(C) offers a solution for the problem raised in the first para.
(D) winds up the argument in the passage by finding an amicable position.
(E) accepts the fact that the issue is complex and not likely to be solved anytime soon.
D. Quantitative Aptitude

Directions for questions 1 and 2:

These questions are based on the information given below.

A Greek merchant sells a certain medicated oil during the month I, month II, month lll and month
lV. Every month, the merchant buys 100 Iitre of the oil at a price of the earlier month and sells it
at a price 10% more than that of the present month. The prices of the oil in the month before
month I, in month l, in month ll, in month Ill and in month IV are ₹1200, ₹1000, ₹1400, ₹1300
and ₹1100 respectively per litre. He also employed workers with him during these months. The
number of workers with him in month I, month ll, month Ill and month lV are 3, 4, 9 & 8
respectively. A worker was paid ₹10 per day. (Assume that there are 30 days to every month).

1. What is his overall profit (in ₹) in the four months?

(A) 3800 (B) 7200 (C) 30,800 (D) 54,000

2. If each worker is paid ₹15 instead of ₹10 per day, what is the merchant's profit (in ₹)? (A)
10,800 (B) 18000 (C) 40,000 (D) 27,200

Q.3.A uniform cylindrical tank is initially filled to 60% of its capacity. The radius of the base of
the tank is then increased by 10%. By what percent (approx.) of the height of the tank does the
level of water fall?
(A) 30% (B) 20% (C) 10% (D) 7.35%

Q.4.A and B start running simultaneously clockwise along the walls of a square park. The
corners of the park are facing north, south, east and west and are named N, S, E and W
respectively. They start at E and run towards S. If the speed of A is 6 times that of B, where do
they meet for the 27thtime?
(A) Between S and W (B) At S (C) Between W and N (D) At N
Q.5. There are three taps P, Q and R attached to a big drum (mean to hold water). P and Q fill
the drum with water and R drains out the water. P alone can fill the empty drum in 10 minutes
and Q alone can fill the empty drum in 40 minutes. A lady with an intention to fill the empty drum
opens the taps P and Q. She returns when the drum should have been full but finds that even
tap R was open accidentally. She then closes tap R and the drum gets filled in the next 2
minutes. In how much time will the tap R working on its own empty the full drum? (in minutes)

Q.6. The number 500! is successively divided by 35 P times, and then by 15 Q times and finally
by 21 R times where P, Q, R are positive integers. These divisions have no remainders at any
stage. If the final quotient (M) thus obtained is divisible by 3210 but not by 7, which of the
following numbers could be the index of the highest power of 5 that divides M?
(A) 5 (B) 77 (C) 79 (D) 89

Directions for questions Q.7 and Q.8:

These questions are based on the information given below.

There are two buses which shuttle between a hill-station at the top of a hill and a town at the
bottom of the hill. They both start at the same time - one from the bottom and the other from the
top of the hill. They both travel along the same route and cross each other at a certain point.
After they cross, 8 times the time taken by the bus going downhill is equal to the difference
between the times taken by the two buses to reach their destinations from their meeting point.

7. The difference between the times taken by them to reach their respective destinations from
their meeting point is 16 hours. How many hours after they start do they meet?

8. The speed of the bus from the bottom of hill to the top is 10 kmph and it takes 8 hours more
than the bus from the top to complete its trip. What is the distance between the top and the
bottom of the hill?(in km)
(A) 80 (B) 124 (C) 120 (D) 90
Q.9. An equilateral triangle is inscribed in a circle of radius 10 sm. A 2ndequilateral triangle is
drawn by joining the mid-points of the sides of the 1sttriangle. By repeating this process infinitely,
a series of equilateral triangles are formed. A square is inscribed in the same circle of radius
10cm. The above-mentioned process of joining the mid points of the sides sequentially is
carried out for the square to produce infinite squares. What is the
ratio of the sum of the areas of all equilateral triangles to the sum of the areas of all the
squares?
(A) 10: (√2 + 1) (B) (√2 + 1): 10√3 (C) √3 ∶ 4 (D) 10√3: (√2 + 1)

5𝑓(𝑛−1)+13
Q.10. lf𝑓(𝑛) = 4𝑓(𝑛−1)−5
for n > 1 and 𝑓(1) = 3, then find 𝑓(200).
E. DILR – 1 Set

Directions for the questions 1 to 4:

These questions are based on the following information.

Sixty four identical cubes are painted with different numbers from 1 to 64. These cubes are
arranged to form a large cube in the following manner.

(i) The large cube is formed with the help of identical cuboids. These cuboids are built one after
the other from the rear to the front such that the first built cuboid forms the rear face of the large
cube, and the last built cuboid forms the front face of the large cube.

(ii) Each cuboid is formed with the help of identical columns which are built from the left side to
the right side.

(iii) Each column is built by placing one cube over the other.

(iv) The cubes are used starting with the cube with number 64, and further in the descending
order of numbers up to the cube numbered 1.

1. What is the sum of the numbers on the smaller cubes that form the diagonal on the front
face of the larger cube starting from the top right cube?

(A) 30 (B) 24 (C) 34 (D) 20

2. What is the sum of the numbers on the smaller cubes that form the body diagonal that
connects the two opposite corners of the large cube starting from the top right cube on the
front face?

(A) 130 (B) 124 (C) 134 (D) 120

3. What is the sum of numbers on the smaller cubes used to build the third cuboid in forming
the larger cube?

4. What is the sum of numbers on the smaller cubes that are at the bottom of each column of
the larger cube?
(A) 530 (B) 544 (C) 524 (D) None of these