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In a horse racing, there are three horses, P, Q, and R. The Payoffs at P is 3: 7, at Q, is 4: 9, at R, is 5: 11. Salman bets Rs. 693 on a horse which would fetch the maximum amount. Luckily his horse has won. Then what is the total amount won by him?
  • a)
    Rs.990
  • b)
    Rs.1001
  • c)
    Rs.1008
  • d)
    Rs.1011
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
In a horse racing, there are three horses, P, Q, and R. The Payoffs at...
If Salman bets on horse P: 693*3/7 = 297
If he bets on horse Q: 693*4/9 = 308
If he bets on horse R: 693*5/11 = 315
Hence, Salman bets on horse R and he wins 315
Total = 693+315 = 1008
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Community Answer
In a horse racing, there are three horses, P, Q, and R. The Payoffs at...
Understanding the Payoffs
In horse racing, the payoffs indicate how much a bettor can win based on their stake. Here are the payoffs for each horse:
- Horse P: 3:7
- Horse Q: 4:9
- Horse R: 5:11
Calculating Maximum Payoff
To determine which horse yields the maximum return on the Rs. 693 bet, we need to convert the payoffs into a decimal format and calculate the total return for each horse.
Horse P
- Payoff Ratio: 3:7
- For every Rs. 7 bet, you win Rs. 3.
- Total Amount Won = (693 / 7) * 3 = Rs. 297.43
- Total Return = Stake + Winnings = 693 + 297.43 = Rs. 990.43 (approx. Rs. 990)
Horse Q
- Payoff Ratio: 4:9
- For every Rs. 9 bet, you win Rs. 4.
- Total Amount Won = (693 / 9) * 4 = Rs. 308
- Total Return = Stake + Winnings = 693 + 308 = Rs. 1001
Horse R
- Payoff Ratio: 5:11
- For every Rs. 11 bet, you win Rs. 5.
- Total Amount Won = (693 / 11) * 5 = Rs. 315
- Total Return = Stake + Winnings = 693 + 315 = Rs. 1008
Conclusion
After calculating the returns for each horse, the maximum payout comes from Horse R, which amounts to Rs. 1008. Therefore, the correct answer is:
Rs. 1008 (Option C)
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In a horse racing, there are three horses, P, Q, and R. The Payoffs at P is 3: 7, at Q, is 4: 9, at R, is 5: 11. Salman bets Rs. 693 on a horse which would fetch the maximum amount. Luckily his horse has won. Then what is the total amount won by him?a)Rs.990b)Rs.1001c)Rs.1008d)Rs.1011Correct answer is option 'C'. Can you explain this answer?
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In a horse racing, there are three horses, P, Q, and R. The Payoffs at P is 3: 7, at Q, is 4: 9, at R, is 5: 11. Salman bets Rs. 693 on a horse which would fetch the maximum amount. Luckily his horse has won. Then what is the total amount won by him?a)Rs.990b)Rs.1001c)Rs.1008d)Rs.1011Correct answer is option 'C'. Can you explain this answer? for Interview Preparation 2024 is part of Interview Preparation preparation. The Question and answers have been prepared according to the Interview Preparation exam syllabus. Information about In a horse racing, there are three horses, P, Q, and R. The Payoffs at P is 3: 7, at Q, is 4: 9, at R, is 5: 11. Salman bets Rs. 693 on a horse which would fetch the maximum amount. Luckily his horse has won. Then what is the total amount won by him?a)Rs.990b)Rs.1001c)Rs.1008d)Rs.1011Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Interview Preparation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In a horse racing, there are three horses, P, Q, and R. The Payoffs at P is 3: 7, at Q, is 4: 9, at R, is 5: 11. Salman bets Rs. 693 on a horse which would fetch the maximum amount. Luckily his horse has won. Then what is the total amount won by him?a)Rs.990b)Rs.1001c)Rs.1008d)Rs.1011Correct answer is option 'C'. Can you explain this answer?.
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