Read the given statement and conclusions carefully. Assuming that the information given in the statement is true, decide which of the given conclusions logically follows from the statement.
Statement:
India’s largest lender bank has announced that it will be allowing customers to exchange ₹2,000 notes without a requisition slip for amounts up to ₹20,000.
Conclusions:
I. No one will be allowed to withdraw an amount of more than ₹20,000.
II. No requisition slip is required for exchange of up to ₹20,000.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Only Conclusion II follows.
I. No one will be allowed to withdraw an amount of more than ₹20,000.
The sentence talks about the exchange of 2000 notes and not withdrawal. Hence, the conclusion I do not follow.
II. No requisition slip is required for exchange of up to ₹20,000.
The sentence says that no requisition slip is needed till ₹20,000. Hence, conclusion II follows.