You can check the previous year IIFT cutoff details in the link below:

IIFT cutoff

GK based questions give you the opportunity to increase your accuracy. This is because, if you know the answer to a GK question, there is no scope for confusion!
Static GK consists of areas that do not change over time. You may expect questions from the following sub-topics in Static GK:

History
Geography Economy
Companies and Brands
Indian Political System & Constitution
Organizations
Science & Technology
Sports

India Year Book (by Publication Division, Government of India) is one such source which provides indepth GK preparation questions.
Good luck.

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