Civil Engineering (CE) Exam  >  Civil Engineering (CE) Questions  >  The direct and indirect costs estimated by a ... Start Learning for Free
The direct and indirect costs estimated by a contractor for bidding a project is ₹160000 and ₹20000 respectively. If the mark up applied is 10% of the bid price, the quoted price (₹in) of the contractor is 
  • a)
    200000  
  • b)
    198000  
  • c)
    196000
  • d)
    182000 
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
The direct and indirect costs estimated by a contractor for bidding a ...
Given information:
Direct costs = $160,000
Indirect costs = $20,000
Mark-up percentage = 10%

To calculate the quoted price, we need to add the direct costs, indirect costs, and the mark-up to the estimated costs.

1. Calculate the mark-up:
Mark-up = 10% of the bid price
Mark-up = 0.10 x (Direct costs + Indirect costs)

2. Calculate the bid price:
Bid price = Direct costs + Indirect costs + Mark-up

Calculation:

1. Calculate the mark-up:
Mark-up = 0.10 x (Direct costs + Indirect costs)
Mark-up = 0.10 x ($160,000 + $20,000)
Mark-up = 0.10 x $180,000
Mark-up = $18,000

2. Calculate the bid price:
Bid price = Direct costs + Indirect costs + Mark-up
Bid price = $160,000 + $20,000 + $18,000
Bid price = $198,000

The quoted price of the contractor is $198,000, which is option B.
Free Test
Community Answer
The direct and indirect costs estimated by a contractor for bidding a ...
Direct cost = 160000 Rs  
Indirect cost = 20000 Rs.  
Mark up rate = 10% of bid price  
Total estimated cost by contractor = 160000+ 20000 = 180000 Rs
Mark up cost = 10% of 180000 Rs = 18000 Rs  
Quoted price = Total estimate cost + Markup cost = 180000 + 18000 Rs = 198000 Rs  
Hence, the correct option is (B). 
Explore Courses for Civil Engineering (CE) exam

Top Courses for Civil Engineering (CE)

The direct and indirect costs estimated by a contractor for bidding a project is 160000 and 20000 respectively. If the mark up applied is 10% of the bid price, the quoted price (in) of the contractor isa)200000 b)198000 c)196000d)182000Correct answer is option 'B'. Can you explain this answer?
Question Description
The direct and indirect costs estimated by a contractor for bidding a project is 160000 and 20000 respectively. If the mark up applied is 10% of the bid price, the quoted price (in) of the contractor isa)200000 b)198000 c)196000d)182000Correct answer is option 'B'. Can you explain this answer? for Civil Engineering (CE) 2024 is part of Civil Engineering (CE) preparation. The Question and answers have been prepared according to the Civil Engineering (CE) exam syllabus. Information about The direct and indirect costs estimated by a contractor for bidding a project is 160000 and 20000 respectively. If the mark up applied is 10% of the bid price, the quoted price (in) of the contractor isa)200000 b)198000 c)196000d)182000Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Civil Engineering (CE) 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The direct and indirect costs estimated by a contractor for bidding a project is 160000 and 20000 respectively. If the mark up applied is 10% of the bid price, the quoted price (in) of the contractor isa)200000 b)198000 c)196000d)182000Correct answer is option 'B'. Can you explain this answer?.
Solutions for The direct and indirect costs estimated by a contractor for bidding a project is 160000 and 20000 respectively. If the mark up applied is 10% of the bid price, the quoted price (in) of the contractor isa)200000 b)198000 c)196000d)182000Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Civil Engineering (CE). Download more important topics, notes, lectures and mock test series for Civil Engineering (CE) Exam by signing up for free.
Here you can find the meaning of The direct and indirect costs estimated by a contractor for bidding a project is 160000 and 20000 respectively. If the mark up applied is 10% of the bid price, the quoted price (in) of the contractor isa)200000 b)198000 c)196000d)182000Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of The direct and indirect costs estimated by a contractor for bidding a project is 160000 and 20000 respectively. If the mark up applied is 10% of the bid price, the quoted price (in) of the contractor isa)200000 b)198000 c)196000d)182000Correct answer is option 'B'. Can you explain this answer?, a detailed solution for The direct and indirect costs estimated by a contractor for bidding a project is 160000 and 20000 respectively. If the mark up applied is 10% of the bid price, the quoted price (in) of the contractor isa)200000 b)198000 c)196000d)182000Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of The direct and indirect costs estimated by a contractor for bidding a project is 160000 and 20000 respectively. If the mark up applied is 10% of the bid price, the quoted price (in) of the contractor isa)200000 b)198000 c)196000d)182000Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice The direct and indirect costs estimated by a contractor for bidding a project is 160000 and 20000 respectively. If the mark up applied is 10% of the bid price, the quoted price (in) of the contractor isa)200000 b)198000 c)196000d)182000Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice Civil Engineering (CE) tests.
Explore Courses for Civil Engineering (CE) exam

Top Courses for Civil Engineering (CE)

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev