Latest MBA Aptitude Question SOLUTION: The charges of a taxi journey are decided on the basis of the distance covered and the amount of the waiting time during a journey. Distance wise, for the first 2 kilometers (or an

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(#M40016607) MBA question averages, percentages, profit loss and interest Keep an EYE

The charges of a taxi journey are decided on the basis of the distance covered and the amount of the waiting time during a journey. Distance wise, for the first 2 kilometers (or any part thereof) of a journey the meter reading is fixed as Rs 10(if there is no waiting). Also if a taxi is boarded and it does not move, then the meter reading is again fixed at Rs 10 for the first ten minutes of waiting. For every additional kilometer the meter reading changes by Rs 5 (with changes in the meter reading being in multiples of Re. 1 for every 200 meters traveled). For every additional minute of waiting, the metre reading changes by Re. 1 (no account is taken of a fraction of a minute waited for or of a distance less than 200 meters traveled). The net meter reading is a function of the amount of time waited for and the distance traveled. The cost of running a taxi depends on the fuel efficiency (in terms of mileage/liter), depreciation (straight line over 10 years) and the driver's salary (not taken into account if the taxi is self owned).Depreciation is Rs. 100 per day everyday of the first 10 years. This depreciation has to be added equally to the cost for every customer while calculating the profit for a particular trip. Similarly, the driver's salary is also apportioned equally across the customers of the particular day. Assume, for simplicity that there are 50 customers every day(unless otherwise mentioned). The cost of fuel is Rs 15 per litre(unless otherwise stated).The customer has to pay 20% over the meter reading while settling his bill. Also assume that there is no fuel cost for waiting time (unless otherwise stated).Base on additional information given below answer the following question: Mr. Vikas Verma owns a fleet of 3 taxis ,where he pays his driver Rs. 3000 per month.He also insists on keeping an attendant for Rs. 1500 per month in each of taxis. Idling requires 50 ml of fuel for every minute of idling . For a moving taxi,the fuel consumption is given by 12 km/liter. On a particular day,he received the following reports about the three taxis.--------------------------------------------------------------------------------------------------------Taxi Code Total Kilometers Waiting time with idling waiting time without idling--------------------------------------------------------------------------------------------------------A 260 190 min 30 minB 264 170 min 80 min C 275 180 min 60 min--------------------------------------------------------------------------------------------------------Question: The maximum revenue has been generated by which taxi?a):A b):B c):C d):Can not be determinedIf it is to be assumed that every customer traveled at least 2 kilometers:Question:Which of the three taxis generate the maximum revenue?a):A b):B c):C d)noneQuestion:What percentage of total revenue was generated by Taxi B?a):32.3 b):33.36 c):34.32 d):34.36Question:Highest profit is given by which taxi?a):A b):B c):C d):Can not be determinedQuestion:The taxi which had highest percentage profit for the day was:a):A b):B c):C d):Can not be determinedQuestion:The profit as a percentage of costs for the day was:

1) 179.46%
2) 150.76%
3) 163.28
4) 173.48
5) Can not be determined

Asked In MBA (11 years ago)

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