Question : The State Commission has the authority to hear complaints under The Consumer Protection Act of 1986 when the value of the products or services paid as consideration along with the compensation requested is __________.

Option 1: up to Rs.20 lakhs

Option 2: more than Rs.20 lakhs, up to Rs.1 crore

Option 3: more than Rs.1 crore

Option 4: None of these

Question : The District forums will take complaints into consideration when the stated worth of the products and services along with the compensation is ____________.

Option 1: up to Rs.20 lakhs

Option 2: more than Rs.20 lakhs, up to Rs.1 crore

Option 3: more than Rs.1 crore

Option 4: None of these

Question : If the State Commission receives a complaint that includes both the value of the claimed compensation and the goods or services:

Option 1: exceeds Rs.20 lakh, but is less than Rs.1 crore

Option 2: does not exceed Rs.20 lakh exceeds Rs.10 lakh

Option 3: exceeds Rs.10 lakh

Option 4: exceeds Rs.50 lakh

Question : K and P are partners in a firm which earned a profit of Rs.1,20,000 for the year. K is entitled to a commission of 20% of net profit after charging such commission. The amount of commission K will receive is:

Option 1: Rs.24,000

Option 2: Rs.20,000

Option 3: Rs.22,000

Option 4: None of these

Question : Given that national income is Rs.100 crore and consumption expenditure is Rs.72 crore, When income rises to Rs. 200 crore and consumption expenditure to Rs. 108 crore, what will be the average propensity to consume at intial level.

Option 1: 0.28

Option 2: 0.72

Option 3: 0.33

Option 4: None of the above.