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) 2 Lakh
(B) 3 Lakh
(C) 4 Lakh
(D) 8 Lakh

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