Aptitude Discussion

Q. |
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? |

✖ A. |
Rs 7 Lakh |

✖ B. |
Rs 4 Lakh |

✔ C. |
Rs 3 Lakh |

✖ D. |
Rs 1.5 Lakh |

**Solution:**

Option(**C**) is correct

IBM initially quoted Rs $7x$ lakh. KTC quoted $4x$ lakh.

IBM's final quote = $(4x1)$ Lakh

Thus, \(\begin{align*} \dfrac{4x-1}{4x}&=\dfrac{3}{4}\\ \Rightarrow x&=1 \end{align*}\)

IBM's bid winning price = Rs 3 Lakh

So IBM wins the bid at $4x1$= \(\text{Rs. }3\text{ lakh}\)

**Edit:** Thank you, **Christine,** for explaining in detail in the comments.

**Edit 2:** For an alternative solution, check comment by **Karan Sharma.**

**Karan Sharma**

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**Savan**

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How $X=1$??? and How it is 3 lakh??

Hey Savan,

Let me simplify it further for you.

Since it is mentioned in the question that initial ratio was $7:4$.

So we say that IBM's bid was $7x$ lakh and KTC's was $4x$ lakh.

Question further says that IBM lowers the bid by 1 lakh (from KTC's bid), so final bid from IBM becomes $4x-1$ lakh.

At this point ratio becomes $3:4$ (again mentioned in the question).

Thus,

$$\dfrac{4x-1}{4x}=\dfrac{3}{4}$$

Upon solving, we get, $x=1$

And at $x=1$, IBM's bid was,

$=4x-1$

$=(4 \times 1)-1$

$=3 \textbf{ lakh}$

Let IBM's bid be $=x$, and that of KTC be $=y$.

Now initialy. $x:y=7:4$

So, $4x =7y \Rightarrow x= \dfrac{7y}{4}$.

Now, IBM's bid was 1 lakh less than KTC's.

So that means

$y-1 \text{ lakh} :y=3:4.$

So by solving this $\dfrac{y-1 \text{ lakh}}{y}=\dfrac{3}{4}$

So, $y=4 \text{ lakh}$

Now $x=y-1 \text{ lakh}$

Therefore $x= \textbf{3 lakhs}$