Step 1: Define the events
Let \( E_1 \) be the event that the lost card is a King, and \( E_2 \) be the event that the lost card is not a King. Let \( A \) be the event of drawing a King from the remaining 51 cards.
Step 2: Assign probabilities to the events
\[ P(E_1) = \frac{1}{13}, \quad P(E_2) = \frac{12}{13}, \quad P(A|E_1) = \frac{3}{51}, \quad P(A|E_2) = \frac{4}{51} \]
Step 3: Use Bayes' Theorem
The required probability is \( P(E_1|A) \), which is given by: \[ P(E_1|A) = \frac{P(A|E_1) \cdot P(E_1)}{P(A|E_1) \cdot P(E_1) + P(A|E_2) \cdot P(E_2)} \] Substituting the values: \[ P(E_1|A) = \frac{\frac{1}{13} \cdot \frac{3}{51}}{\frac{1}{13} \cdot \frac{3}{51} + \frac{12}{13} \cdot \frac{4}{51}} = \frac{\frac{3}{663}}{\frac{3}{663} + \frac{48}{663}} = \frac{3}{51} = \frac{1}{17} \]
Step 4: Final result
The probability that the lost card is a King is \( \frac{1}{17} \).
Based upon the results of regular medical check-ups in a hospital, it was found that out of 1000 people, 700 were very healthy, 200 maintained average health and 100 had a poor health record.
Let \( A_1 \): People with good health,
\( A_2 \): People with average health,
and \( A_3 \): People with poor health.
During a pandemic, the data expressed that the chances of people contracting the disease from category \( A_1, A_2 \) and \( A_3 \) are 25%, 35% and 50%, respectively.
Based upon the above information, answer the following questions:
(i) A person was tested randomly. What is the probability that he/she has contracted the disease?}
(ii) Given that the person has not contracted the disease, what is the probability that the person is from category \( A_2 \)?
Rupal, Shanu and Trisha were partners in a firm sharing profits and losses in the ratio of 4:3:1. Their Balance Sheet as at 31st March, 2024 was as follows:
(i) Trisha's share of profit was entirely taken by Shanu.
(ii) Fixed assets were found to be undervalued by Rs 2,40,000.
(iii) Stock was revalued at Rs 2,00,000.
(iv) Goodwill of the firm was valued at Rs 8,00,000 on Trisha's retirement.
(v) The total capital of the new firm was fixed at Rs 16,00,000 which was adjusted according to the new profit sharing ratio of the partners. For this necessary cash was paid off or brought in by the partners as the case may be.
Prepare Revaluation Account and Partners' Capital Accounts.