Engineering Board Exam Reviewer · ECE · hard
A ₱2,000,000 contract has two approved change orders: an addition of 8% and a deduction of 3% of the original contract price. What is the revised contract price?
- ₱2,160,000.00
- ₱1,940,000.00
- ₱2,100,000.00
- ₱2,220,000.00
Answer
C. ₱2,100,000.00
Solution
Net change = +8% - 3% = +5% of 2,000,000 = ₱100,000. Revised price = ₱2,100,000.
More ECE questions
- A ₱500,000 balance for a completed radio installation remained unpaid for 2 years after judicial demand. Using the 6% per annum legal…
- The Philippine Competition Act, which created the Philippine Competition Commission, is:
- A 'kickback' in procurement refers to:
- When an engineer believes a client's project will not be successful or economical, ethical practice requires the engineer to:
- A dispute resolution process in which a neutral third party helps the parties reach a voluntary settlement, without imposing a decision, is:
- The Alternative Dispute Resolution Act of the Philippines is:
- The principle that no one shall be unjustly enriched or benefited at the expense of another is found in:
- Article 19 of the Civil Code (the 'abuse of rights' principle) requires every person, in the exercise of his rights and performance of his…
- In a contract of lease of things, one party binds himself to give to another the enjoyment or use of a thing for:
- A contract granting a person the privilege to buy a property within a certain period, for a separate consideration, is called a/an: