Please help me in this question as i am lacking in it . please see to it and try to give solution of it .
A contract for construction of building is governed by escalation clause in respect of prices of steel,
cement, and stone aggregate.The prices ruling on the date of tender for building and actual prices paid by the contractor were as follows:
On date of tender actual
Steel per ton 610 675
Cement p 100 105
Stone aggregate per 100 cft 40 38
3,00,000 c.ft. of reinforced cement concrete was laid in the building.If 100lbs of steel , 2400lbs of cement and 90c.ft. of stone are net quantity required to cast 100c.ft. of RCC and wastage are 5,3 and 10 % respectively. Calculate the difference in selling price according to estimate clause (1 ton = 2,240 lbs).Assume the wastage % based on net quantity of material.
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