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A construction company was paid a total of 50000 for a

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A construction company was paid a total of 50000 for a [#permalink] New post 02 Jan 2009, 02:20
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A construction company was paid a total of 50000 for a construction project. The company's

only cost 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

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Re: Profit of the construction company - DS [#permalink] New post 02 Jan 2009, 04:02
Krishnan, did you mean 500,000 in place of 50,000?

With 500,000 I got C as the answer.

From stmt1 alone no idea of profit is available.
From stmt2 alone, no idea of total cost is available.

Combining two, c = cost, l = labor cost, m = material cost.
Then, c = m + l = 3m
or, l = 2m.

Also, 500,000 - c > l
or, 500, 000 > c + l
or, 500,000 > 5m
or, m < 100,000
and l < 200, 000
Hence, c < 300, 000
and profit > 200, 000.
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Re: Profit of the construction company - DS [#permalink] New post 02 Jan 2009, 20:16
excellent !! thanks a lot

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Re: Profit of the construction company - DS [#permalink] New post 03 Jan 2009, 15:05
Yeah got a C too. I realized that 50,000 is actually 500,000
Re: Profit of the construction company - DS   [#permalink] 03 Jan 2009, 15:05
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