IBPS GK Questions 2026

Article 60 provides that the President shall, before entering upon his office, make and subscribe an oath or affirmation in the presence of the Chief Justice of India, or in his absence the senior-most Judge of the Supreme Court available.

Article 54 says the President shall be elected by an electoral college consisting of the elected members of both Houses of Parliament and the elected members of the Legislative Assemblies of the States, the Assemblies of Delhi and Puducherry having been added by the Seventieth Amendment.

When Dr. Zakir Husain died on 3 May 1969, Shri V. V. Giri was the Vice-President, and under Article 65 the Vice-President discharges the functions of the President during such a vacancy.

He took office in May 1967 and died on 3 May 1969, which gave him the shortest tenure of any President of India and made him the first to die in office.

He held the office of Vice-President from 13 May 1952 to 12 May 1962, two full terms, and then served as the second President of India from 1962 to 1967.

He was sworn in on 26 January 1950, the day the Constitution came into force, and held the office until 13 May 1962.

The profit volume ratio measures contribution as a percentage of sales, and contribution is sales minus variable cost.

Costs are classified as direct or indirect by traceability. A direct cost can be attributed wholly to one product, job or process, such as the raw material in a shirt or the wages of the worker who stitches it.

Returns to scale asks what happens to output when every input is increased in the same proportion, which is possible only in the long run, when the firm can build a bigger plant as well as hire more labour.

An implicit cost is the imputed value of a factor supplied by the entrepreneur himself, for which no payment leaves the firm; the rent he could have earned by letting out his own premises, the interest on his own capital and the salary he could have drawn elsewhere are the…

Marginal cost is the addition to total cost from producing one more unit, so for a one unit change it is simply the difference between successive values of total cost.

At that output the firm makes neither profit nor loss in the economic sense and earns only normal profit, since normal profit is already counted in cost as the reward of enterprise.

Both conditions are needed. If marginal revenue exceeds marginal cost the firm gains by producing more, and if marginal cost exceeds marginal revenue it gains by producing less, so profit can be highest only where they are equal; and the equality must occur on the rising part of the marginal…

A firm in perfect competition is a price taker because its output is a negligible part of the market, so it can sell any quantity at the ruling price.

This is the defining condition of the short run, where plant and machinery cannot be changed, so only the proportion between the variable factor and the fixed factor alters.

The reason is arithmetic rather than economic: so long as marginal cost is below average cost, each extra unit pulls the average down, and once marginal cost rises above average cost the average must rise, so the two can only be equal where the average is at its lowest.

Average fixed cost is total fixed cost divided by output; the numerator is unchanged, so a larger output spreads the same fixed cost over more units.

Fixed cost is the payment for factors that cannot be varied in the short run, such as the rent of the factory building, insurance and the salary of permanent staff, and it has to be met even when output is zero, which is why it is also called supplementary or…

Kolleru is a large shallow freshwater lake lying between the deltas of the Krishna and the Godavari, fed by the Budameru and Tammileru streams; it is a natural flood balancing reservoir for the two deltas and an important wintering ground for pelicans and other water birds.

It lies in the Kashmir valley in Jammu and Kashmir, is fed by the Jhelum and occupies a tectonic depression, which makes it the largest freshwater lake of India.