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Q: For big work or projects, the percentage estimated cost provided in the estimate for the purchase of tools and plants is :
  • A. 1 to 5%
  • B. 1.0 to 1.5%
  • C. 2 to 5%
  • D. 1.5 to 2%
Correct Answer: Option B - Tools and Plant (T & P)– For the execution of big works, provision for the purchase of machinery etc. For big projects an amount 1% to 1.5% of the estimated cost is also provided to purchase special tools and plants for specific purposes. Contingency Fund– This estimated cost is increased by 3% to 5% for all unforeseen expenditure. Note : The commission has rejected the question in revised answer key.
B. Tools and Plant (T & P)– For the execution of big works, provision for the purchase of machinery etc. For big projects an amount 1% to 1.5% of the estimated cost is also provided to purchase special tools and plants for specific purposes. Contingency Fund– This estimated cost is increased by 3% to 5% for all unforeseen expenditure. Note : The commission has rejected the question in revised answer key.

Explanations:

Tools and Plant (T & P)– For the execution of big works, provision for the purchase of machinery etc. For big projects an amount 1% to 1.5% of the estimated cost is also provided to purchase special tools and plants for specific purposes. Contingency Fund– This estimated cost is increased by 3% to 5% for all unforeseen expenditure. Note : The commission has rejected the question in revised answer key.