Question:
Two companies A and B quote for a tender. On the tender opening day, A realises that the two 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. By how much did A decrease its price in order to win the bid?
Two companies A and B quote for a tender. On the tender opening day, A realises that the two 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. By how much did A decrease its price in order to win the bid?
Updated On: Sep 26, 2024
- Rs.7 Lakhs
- Rs.4 lakhs
- Rs.9 lakhs
- None of these
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The Correct Option is B
Solution and Explanation
Let the quotes of A and B be \(7x\) and \(4x\)
According to the question,
\(=\frac{4x-1}{4x}=\frac{3}{4}\)
\(=4x-1=3x\) (or) \(x=1\) Lakh
Amount decreased by A in price to win the bid is given by,
\(=7x-(4x-1)\)
\(=3x+1=4\) Lakh
Hence, option B is the correct answer.The correct option is (B): Rs.4 lakhs
According to the question,
\(=\frac{4x-1}{4x}=\frac{3}{4}\)
\(=4x-1=3x\) (or) \(x=1\) Lakh
Amount decreased by A in price to win the bid is given by,
\(=7x-(4x-1)\)
\(=3x+1=4\) Lakh
Hence, option B is the correct answer.The correct option is (B): Rs.4 lakhs
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