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Gmat prep data sufficiency question

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by gotinstyle » Mon Nov 17, 2008 8:39 pm
A construction company was paid a total of $500,000 for a construction project. The company's only costs for the project were for labor and materials. Was the company's profit for the project greater than $150 000?

(1) The company's total cost was three times its cost for materials.
(2) The company's profit was greater than its cost for labor.

OA is C

Help appreciated
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Source: — Data Sufficiency |
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Re: Gmat prep data sufficiency question

by logitech » Mon Nov 17, 2008 9:09 pm
gotinstyle wrote:A construction company was paid a total of $500,000 for a construction project. The company's only costs for the project were for labor and materials. Was the company's profit for the project greater than $150 000?

(1) The company's total cost was three times its cost for materials.
(2) The company's profit was greater than its cost for labor.

OA is C

Help appreciated
So we spent money for L & M and we are looking whether this cost is less than (500-150) = 350K

1) L+M = 3M

2M = L ( good to know but not sufficient)

2) 500 - L - M > L

500 > 2L + M = Not Suff

1+2)

500 > 2(2M) + M

500 > 5M

M < 100

we know that L =2M

so L < 200

Total cost L+M

L + M < 300

since our cost is less than 300K, and we are paid 500K

We are still in business and have at least 200K in our pocket 8)

Hence, C
LGTCH
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by gotinstyle » Tue Nov 18, 2008 7:16 am
Great solution. Thanks.
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by jurquhart » Tue Nov 18, 2008 5:42 pm
thanks!!
SPICE!!!!
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by nitinrai » Sun Jan 11, 2009 5:41 pm
good work Logictech
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