@@ishandas3933 Yup I believe so. The problem seems to be supply constrained to me since there is a limit to the number of people that can be accommodated in the restaurant, i.e. the seating capacity.
Another Mistake.He said 14 million Credit cards for Upper househole,whereas it is 12M. 20% of 10M has 2 credit cards(so its 4M) + 80% household have 1 credit card so its(8M)..so its 12 not 14.
Sanity check my friend Rs 40,000 equals to Rs 800 and not 2 % of annual spend. Plus I believe you missed a key prelim question, I don’t think you get 2% on all the purchase you make. Hence behavioural spend goes missing. Also, as a candidate I would have asked typically how much interest do I pay on spend. Because that will affect some if not all.
that is exactly what I just thought of.. It's a huge calculation mistake as that makes the monthly spending to be around 10k instead of 3k taken in the video.
Also this might be a trivial point but assuming that 100% of UC population use credit cards is not right. In simple terms UC means rich people so some of them have enough financial ability 5to buy things upfront with cash,debit card,net banking etc. So i guess for 1 credit card,2 credit cards & no credit cards the assumption can be 60%,20% & 20%.
There is no harm in drilling down more as long as you can reach some sensible numbers and are rational but don't get lost in just drilling down and not reaching a conclusion. Being balanced is the key.
The preliminary questions I believe are dumb, the question clearly asks to estimate "Credit Cards" , how can we ask such a stupid question like just credit cards or debit cards also? Then, I feel everyone knows the difference b/w a credit card and a debit card, so that wont be an issue.
The assumption that bpl and less income people don't use credit cards is not true...people like me take credit cards just to try it out see how it works... most bachelors with less income have credit cards..though they spend accordingly
While cross-checking 1.2 instead of 1.4 and 100000 instead of 40000 ... I was doubting my own calculation, I admire your work but please do not do that.
