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by JeetGulia » Mon Sep 13, 2010 4:07 pm
A company was paid a total of $500,000 for a project. the comapny's only cost for the project were labor and material. Was the company's profit for the project greater than $150,000?

a) the company's total cost was 3 times its material cost
b) the company's profit was greater than its cost

Ans c
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Source: — Data Sufficiency |

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by Rahul@gurome » Mon Sep 13, 2010 6:56 pm
Let the profit = P, then is P > 150,000?

(1) Let the material cost = $C
Then total cost = 3C
Labor cost = 3C - C = 2C
P = $500,000 - 3C, but we don't know C.
So, (1) is NOT SUFFICIENT.

(2) P > Total Cost
So, (2) is NOT SUFFICIENT.

Combining (1) and (2), P = $500,000 - 3C and P > Total cost implies P > 3C or P > $500,000 - P
2P > $500,000 or P > $250,000, which implies the answer to the main question is "yes".

The correct answer is [spoiler](C)[/spoiler].
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