MBA Exam Numerical Ability Ratio and Proportion

Two companies A and B quote for a tender. On the tender
opening day, A realizes that the two quotes are in the ratio 7 : 4 and hence
decreases its price during negotiations to make it 1 lakh lower than B's quoted
price. B then realizes 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 ?

1) 7 lakh
2) 4 lakh
3) 9 lakh
4) none of these

Read Solution (Total 1)

Final ratio is 3:4 and we know that difference between final quotes is 1Lakh.

So 4y−3y=1,00,000.

Thus,

y=1,00,000

A win quote is:

3* 100000 = 3Lakh
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