Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![ya
ETO J.
TIN 3
EXERCISE-8
PRESENT ECONOMY
1. A contractor who was awarded a P4,500,000.00 contract to build a dam failed
to finish the work on time. As provided for in the contract, he has to pay a
daily liquidated damages equivalent to one-fourth of one percent of the
contract price for the first 10 days of the delay, one-half percent per day for the
next ten days and one percent per day for every day thereafter. If the total
penalty was P607,500.00, how many days was the completion of the contract
delayed?
ES
P 4500000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2f41e983-dd33-444c-a567-fe996aa05081%2F8ab35934-c10f-4c7c-9b42-d7d4aa5a6b50%2F1byjejh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:ya
ETO J.
TIN 3
EXERCISE-8
PRESENT ECONOMY
1. A contractor who was awarded a P4,500,000.00 contract to build a dam failed
to finish the work on time. As provided for in the contract, he has to pay a
daily liquidated damages equivalent to one-fourth of one percent of the
contract price for the first 10 days of the delay, one-half percent per day for the
next ten days and one percent per day for every day thereafter. If the total
penalty was P607,500.00, how many days was the completion of the contract
delayed?
ES
P 4500000
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