Subjects arithmetic, budgeting

Rate Adjustment

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Rate Adjustment


1. The problem is to adjust the "BASIC RATE In Figures To be entered by the Bidder Rs." values (column 13) for items 1 to 8 so that the total amount (with taxes) sums to 138223706.40 instead of the current 12962101.52. 2. Let's denote the original basic rates as $r_i$ and the quantities as $q_i$ for $i=1$ to $8$. GST percentage is $18\%$ for all. 3. The total amount with taxes for item $i$ is $$\text{total}_i = q_i\times r_i + (18\% \times q_i \times r_i) = q_i \times r_i \times 1.18.$$ 4. Currently, \( \sum_{i=1}^8 q_i r_i 1.18 = 12962101.52. \) We want to scale each $r_i$ by a factor $k$ so that the new total is 138223706.40: $$ \sum_{i=1}^8 q_i (k r_i) 1.18 = k \times 12962101.52 = 138223706.40. $$ 5. Solving for $k$: $$ k = \frac{138223706.40}{12962101.52} \approx 10.66. $$ 6. Multiply each basic rate by $10.66$: | Sl. No. | Quantity ($q_i$) | Original Rate ($r_i$) | New Rate ($k r_i$) | |---------|----------------|--------------------|-----------------| |1 | 100.00 | 214.50 | $214.50 \times 10.66 = 2286.57$ | |2 | 780.00 | 5575.20 | $5575.20 \times 10.66 = 59403.43$ | |3 | 500.00 | 6359.22 | $6359.22 \times 10.66 = 67799.25$ | |4 | 500.00 | 3227.17 | $3227.17 \times 10.66 = 34412.16$ | |5 | 500.00 | 2439.15 | $2439.15 \times 10.66 = 26001.58$ | |6 | 500.00 | 479.13 | $479.13 \times 10.66 = 5107.55$ | |7 | 500.00 | 243.92 | $243.92 \times 10.66 = 2601.13$ | |8 | 60.00 | 4007.18 | $4007.18 \times 10.66 = 42768.53$ | 7. Verifying the new total: $$ \text{new total} = 1.18 \times \sum_{i=1}^8 q_i \times k r_i = 1.18 \times k \times \sum_{i=1}^8 q_i r_i = 138223706.40. $$ Hence the scaled basic rates achieve the desired total amount. Final adjusted "BASIC RATE" values to be entered: 1. 2286.57 2. 59403.43 3. 67799.25 4. 34412.16 5. 26001.58 6. 5107.55 7. 2601.13 8. 42768.53 These adjustments increase the column 13 rates proportionally to reach the specified total with taxes.