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Question

Think and Learn Pvt. Ltd. and Byju’s Classes quote for a tender. On the tender opening day, Think and Learn Pvt. Ltd. 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 Byju’s Classes quoted price. Byju’s Classes realizes that the final quotes of the two are in the ratio 3:4. What was the price at which Think and Learn Pvt. Ltd. won the bid?


A

1 lakh

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B

2 lakh

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C

3 lakh

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D

4 lakh

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E

none

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Solution

The correct option is C

3 lakh


Let 7x and 4x be the initial bids and 3y and 4y be the final bids

Given 4y-3y=1 lakh

So y=1 lakh

So the price at which Think and Learn Pvt. Ltd. won the bid is 3 lakhs.


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