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A contractor agreed to build 30 temporary sheds in 90 days at a price of Rs. 10000/unit. Twenty days later, the contractor has finished 8 sheds with an actual total cost of Rs. 85000. What is the status of the project?

A contractor agreed to build 30 temporary sheds in 90 days at a price of Rs. 10000/unit. Twenty days later, the contractor has finished 8 sheds with an actual total cost of Rs. 85000. What is the status of the project? Correct Answer The project is time under run and cost overrun

Explanation:

∵ Contractor agreed to build 30 sheds in 90 days

means 1 shed complete in 3 days 

Price of 1 shed is Rs. 10000

So, 8 Shed complete in 24 days while contractor take only 20 days means the project is time under run.

Price of 8 shed = 8 × 10000 = 80000, whlie contractor has finished 8 shed with an actual cost of Rs. 85000 means the project is cost overrun.

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