The GATE Grind

GATE 2021 MT – Question 6

General Aptitude · Analytical Aptitude: Logical Reasoning and Deduction · 2 marks · Multiple choice

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.

Which option is correct?

  1. Only conclusion I is correct
  2. Only conclusion II is correct
  3. Neither conclusion I nor II is correct
  4. Both conclusions I and II are correct

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Show answer and explanation

Correct answer: (C) Neither conclusion I nor II is correct

Explanation

Entrepreneurs are a subset of wealthy people, themselves a subset of risk seekers. The converse that all risk seekers are wealthy does not follow. All entrepreneurs are risk seekers, so only some is not warranted. **Neither conclusion, C**.