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IBM and SGI quote for a tender. On the tender opening day, IBM realizes that their quotations are in the ratio 7:4 and hence decreases
IBM and SGI 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 SGI's quoted price. SGI then realizes that the final quotes of the two were in the ratio 3: 4. What was the price at which IBM won the bid?
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