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RAVI KUMAR

· started a discussion

· 1 Months ago

question clearance (Question:173573.0)

couldn't understand the question... could you please describe it more clearly???

Question:
Two companies A and B quote for a tender. On the tender opening day, A realises that their quotes are in the ratio 7 : 4 and hence decreases its price during negotiations to make it Rs.1 lakh lower than B’s quoted price. B then realises that the final quotes of the two were in the ratio 3 : 4. What was the price at which ‘A’ won the bid?
Options:
A) \(\unicode{x20B9} \)7 lakhs.
B) \(\unicode{x20B9} \)4 lakhs.
C) \(\unicode{x20B9} \)3 lakhs.
D) \(\unicode{x20B9} \)1 lakhs.
Solution:
 

A initially quoted Rs 7x lakh. B quoted 4x lakh.

A's final quote =(4x−1) Lakh
Thus,(4x-1)/4x= 3/4

               ⇒ x=1.
A's bid winning price = Rs 3 Lakh

So A wins the bid at 4x−1= Rs 3 lakh.


Note that the final-quotes are in the ratio of 3 :4 , so the

 first quote has to be a multiple of 3. There is only one such choice.

Knowledge Expert

· commented

· 1 Months ago

Dear student,
Please read the solution
Keep learning,
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