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  •  IBM and KTC quote for a tender. On the tender opening day, IBM realizes that their quotations are in the ratio 7:4 and hence decreases its price during negotiations to make it Rs 1 Lakh lower

 IBM and KTC quote for a tender. On the tender opening day, IBM realizes that their quotations are in the ratio 7:4 and hence decreases its price during negotiations to make it Rs 1 Lakh lower than KTC's quoted price. KTC realizes that the final quotes of the two were in the ratio 3:4. What was the price at which IBM won the bid?

Option: 1

Rs 7 Lakh


Option: 2

Rs 4 Lakh


Option: 3

Rs 3 Lakh


Option: 4

Rs 1.5 Lakh

 


Answers (1)

best_answer

IBM initially quoted Rs 7x Lakhs
KTC initially quoted Rs 4x lakhs
IBM final quote = (4x – 1) lakh = > (4x-1)/4x = 3/4 => x = 1
IBM’s bid winning price = Rs. 3 lakh
So x wins the bid at Rs. 3 lakhs

Posted by

Shailly goel

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