GATE EE 2020 Set 1 — Question 6
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General Aptitude → Analytical Aptitude → Numerical Relations & Reasoning
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Question
Non-performing Assets (NPAs) of a bank in India is defined as an asset, which remains unpaid by a borrower for a certain period of time in terms of interest, principal, or both. Reserve Bank of India (RBI) has changed the definition of NPA thrice during 1993-2004, in terms of the holding period of loans. The holding period was reduced by one quarter each time. In 1993, the holding period was four quarters (360 days).Based on the above paragraph, the holding period of loans in 2004 after the third revision was _______________ days.
Correct answer
(B) 90
Solution
Given information:
New period = 4 quarters - 1 quarter = 3 quarters = .Second revision: Holding period reduced by one quarter.
New period = 3 quarters - 1 quarter = 2 quarters = .Third revision: Holding period reduced by one quarter.
New period = 2 quarters - 1 quarter = 1 quarter = .So, after the third revision in 2004, the holding period of loans was 90 days.Thus, the correct option is (B).
- In 1993, the holding period was four quarters (360 days).
- The holding period was reduced by one quarter each time for three revisions between 1993-2004.
New period = 4 quarters - 1 quarter = 3 quarters = .Second revision: Holding period reduced by one quarter.
New period = 3 quarters - 1 quarter = 2 quarters = .Third revision: Holding period reduced by one quarter.
New period = 2 quarters - 1 quarter = 1 quarter = .So, after the third revision in 2004, the holding period of loans was 90 days.Thus, the correct option is (B).
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