Option D (24.85%) is correct.

ROCE = Profit from operations ÷ Capital Employed × 100

Capital Employed = Shareholders' equity + Non-current liabilities = $423,000 + $80,000 = $503,000

(Current liabilities are excluded from capital employed.)

ROCE = $125,000 ÷ $503,000 × 100 = 24.85%

This three-blank question requires identifying the logical relationship between ideas.

Blank (i): The sentence says these truths “sounded _____ but come to seem profound.” The contrast needs a word meaning the opposite of profound — something that initially sounds obvious or unimpressive. Banal means commonplace, unoriginal, or dull. A banal-sounding truth that becomes profound is the classic “deceptively simple” insight. “Deep” and “portentous” both imply weightiness — the opposite of what’s needed here.

Blank (ii): Since all historical knowledge flows from written documents, those documents carry enormous importance. Consequence means importance or significance. “Antiquity” relates to age (not the point), and “simultaneity” means occurring at the same time (irrelevant).

Blank (iii): The paradox is that more material makes the subject harder to pin down. Elusive means hard to grasp or define — perfect. “Contemporary” means modern (irrelevant), and “circumstantial” means based on indirect evidence (doesn’t fit the logic).

Correct Answers: Blank (i) = C (banal), Blank (ii) = D (consequence), Blank (iii) = G (elusive).