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Given below are two statements 1 and 2, and two conclusions I and II.
Statement 1: All entrepreneurs are wealthy.
Statement 2: All wealthy are risk seekers.
Conclusion I: All risk seekers are wealthy.
Conclusion II: Only some entrepreneurs are risk seekers.
Based on the above statements and conclusions, which one of the following options is CORRECT?
- a)Only conclusion II is correct
- b)Neither conclusion I nor II is correct
- c)Both conclusion I and II are correct
- d)Only conclusion I is correct
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
Given below are two statements 1 and 2, and two conclusions I and II.S...
Statement 1: All entrepreneurs are wealthy.
Statement 2: All wealthy are risk seekers.
Conclusion I: All risk seekers are wealthy.
Conclusion II: Only some entrepreneurs are risk seekers.
Explanation:
To determine the validity of the conclusions, we need to analyze the given statements.
Statement 1: All entrepreneurs are wealthy.
This statement implies that every entrepreneur possesses wealth. It does not state anything about risk-seeking behavior. Hence, we cannot make any conclusion regarding risk seekers from this statement alone.
Statement 2: All wealthy are risk seekers.
This statement suggests that every wealthy person is a risk seeker. It does not make any assertion about entrepreneurs specifically. Therefore, we cannot directly infer anything about entrepreneurs from this statement.
Conclusion I: All risk seekers are wealthy.
This conclusion cannot be deduced from the given statements. Statement 2 only states that all wealthy people are risk seekers, but it does not imply that all risk seekers are wealthy. There could be risk seekers who are not wealthy.
Conclusion II: Only some entrepreneurs are risk seekers.
This conclusion also cannot be derived from the given statements. Statement 1 states that all entrepreneurs are wealthy, but it does not provide any information about risk-seeking behavior. It is possible that all entrepreneurs are risk seekers, but it is also possible that only some of them are.
Conclusion:
Neither conclusion I nor II can be logically deduced from the given statements. Therefore, option B, "Neither conclusion I nor II is correct," is the correct answer.
Statement 2: All wealthy are risk seekers.
Conclusion I: All risk seekers are wealthy.
Conclusion II: Only some entrepreneurs are risk seekers.
Explanation:
To determine the validity of the conclusions, we need to analyze the given statements.
Statement 1: All entrepreneurs are wealthy.
This statement implies that every entrepreneur possesses wealth. It does not state anything about risk-seeking behavior. Hence, we cannot make any conclusion regarding risk seekers from this statement alone.
Statement 2: All wealthy are risk seekers.
This statement suggests that every wealthy person is a risk seeker. It does not make any assertion about entrepreneurs specifically. Therefore, we cannot directly infer anything about entrepreneurs from this statement.
Conclusion I: All risk seekers are wealthy.
This conclusion cannot be deduced from the given statements. Statement 2 only states that all wealthy people are risk seekers, but it does not imply that all risk seekers are wealthy. There could be risk seekers who are not wealthy.
Conclusion II: Only some entrepreneurs are risk seekers.
This conclusion also cannot be derived from the given statements. Statement 1 states that all entrepreneurs are wealthy, but it does not provide any information about risk-seeking behavior. It is possible that all entrepreneurs are risk seekers, but it is also possible that only some of them are.
Conclusion:
Neither conclusion I nor II can be logically deduced from the given statements. Therefore, option B, "Neither conclusion I nor II is correct," is the correct answer.
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Community Answer
Given below are two statements 1 and 2, and two conclusions I and II.S...
The Venn diagram according to the given statements is as follows:
Conclusions:
All risk seekers are wealthy. → False (All wealthy are risk seekers but can't say vice versa is also true)
Only some entrepreneurs are risk seekers → False (All entrepreneurs are wealthy and All wealthy are risk seekers so all entrepreneurs will be risk seekers)
Hence neither conclusion I nor II is correct.
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Given below are two statements 1 and 2, and two conclusions I and II.Statement 1: All entrepreneurs are wealthy.Statement 2: All wealthy are risk seekers.Conclusion I: All risk seekers are wealthy.Conclusion II: Only some entrepreneurs are risk seekers.Based on the above statements and conclusions, which one of the following options is CORRECT?a)Only conclusion II is correctb)Neither conclusion I nor II is correctc)Both conclusion I and II are correctd)Only conclusion I is correctCorrect answer is option 'B'. Can you explain this answer?
Question Description
Given below are two statements 1 and 2, and two conclusions I and II.Statement 1: All entrepreneurs are wealthy.Statement 2: All wealthy are risk seekers.Conclusion I: All risk seekers are wealthy.Conclusion II: Only some entrepreneurs are risk seekers.Based on the above statements and conclusions, which one of the following options is CORRECT?a)Only conclusion II is correctb)Neither conclusion I nor II is correctc)Both conclusion I and II are correctd)Only conclusion I is correctCorrect answer is option 'B'. Can you explain this answer? for GATE 2024 is part of GATE preparation. The Question and answers have been prepared according to the GATE exam syllabus. Information about Given below are two statements 1 and 2, and two conclusions I and II.Statement 1: All entrepreneurs are wealthy.Statement 2: All wealthy are risk seekers.Conclusion I: All risk seekers are wealthy.Conclusion II: Only some entrepreneurs are risk seekers.Based on the above statements and conclusions, which one of the following options is CORRECT?a)Only conclusion II is correctb)Neither conclusion I nor II is correctc)Both conclusion I and II are correctd)Only conclusion I is correctCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for GATE 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Given below are two statements 1 and 2, and two conclusions I and II.Statement 1: All entrepreneurs are wealthy.Statement 2: All wealthy are risk seekers.Conclusion I: All risk seekers are wealthy.Conclusion II: Only some entrepreneurs are risk seekers.Based on the above statements and conclusions, which one of the following options is CORRECT?a)Only conclusion II is correctb)Neither conclusion I nor II is correctc)Both conclusion I and II are correctd)Only conclusion I is correctCorrect answer is option 'B'. Can you explain this answer?.
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