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Fee of contractor for a project has the following provisions
Basic fee = 15% of actual cost of work incurred
Bonus = 20% of savings from estimated cost of work
Penalty = 20% of cost overrum
If the estimated cost of the project is Rs. 60,000, and the actual cost is Rs. 70,000, then the total fee of contractor in Rupees is ___________
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- 8500 to 8500
- 5500
- 3500 to 4500
- 6500