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Statement and Conclusion - Verbal and Reasoning

Directions to SolveIn each question below is given a statement followed by two conclusions numbered I and II. You have to assume everything in the statement to be true, then consider the two conclusions together and decide which of them logically follows beyond a reasonable doubt from the information given in the statement.Give answer:
  • (A) If only conclusion I follows
  • (B) If only conclusion II follows
  • (C) If either I or II follows
  • (D) If neither I nor II follows and
  • (E) If both I and II follow.
Q1:

Statements: The Bank of England's move to auction 25 metric tons of gold drew plenty of bidders looking for a bargain, but was criticised by major gold producers worldwide. Conclusions:
  1. The Bank of England should not auction gold which it possesses to keep steady international prices of gold.
  2. Bidders should quote higher gold prices to retain present value of gold in the international markets.

A Only conclusion I follows

B Only conclusion II follows

C Either I or II follows

D Neither I nor II follows

E Both I and II follow

ANS:D - Neither I nor II follows

Explanation: The statement does not talk against the auction but only speaks of the response it received from the bidders and gold producers. So, I does not follow. The phrase 'plenty of bidders looking for a bargain' is quite contrary to II. So, II also does not follow.