IBM and KTC quote for a tender. On the tender opening day, IBM realizes that their quotations are in the ratio 7 :4 and hence decreases its price during negotiations to make it Rs 1 Lakh lower than KTC's quoted price. KTC realizes that the final quotes of the two were in the ratio 3:4. What was the price at which IBM won the bid? A) Rs 7 Lakh B) Rs 4 Lakh C) Rs 3 Lakh D) Rs 1.5 Lakh