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21 Nov 2019, 08:50
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C
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Difficulty:
95%
(hard)
Question Stats:
29% (03:28) correct
71%
(01:27)
wrong
based on 17
sessions
History
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Time
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Not Attempted Yet
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.
A)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C)BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D)EACH statement ALONE is sufficient.
E)Statements (1) and (2) TOGETHER are NOT sufficient.
(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.
A)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C)BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D)EACH statement ALONE is sufficient.
E)Statements (1) and (2) TOGETHER are NOT sufficient.
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21 Nov 2019, 09:45
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sargambhir
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.
A)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C)BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D)EACH statement ALONE is sufficient.
E)Statements (1) and (2) TOGETHER are NOT sufficient.
(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.
A)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C)BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D)EACH statement ALONE is sufficient.
E)Statements (1) and (2) TOGETHER are NOT sufficient.
Explanation:
Cost = Labor+Materials; Profit= 500000 - Cost
Question is about 500,000 - C > 150,000 & Is C < 350,000
From Statement 1, C = 3M
C = 3M = L + M, L = 2M
Not Sufficient
From Statement 2, P > L; Substitute 2M for L
P > 2M; multiply both sides by 3/2
(3/2)P > 3M
Not Sufficient
Combining 1&2; Substitute C for 3M
(3/2)P > C
P= 150,000
(3/2)(150,000) > C
225,000 > C
So, C < 350,000
Sufficient; Answer is C
Please give kudos, if you find my explanation good enough 
21 Nov 2019, 10:38
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sargambhir
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.
A)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C)BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D)EACH statement ALONE is sufficient.
E)Statements (1) and (2) TOGETHER are NOT sufficient.
(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.
A)Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B)Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C)BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D)EACH statement ALONE is sufficient.
E)Statements (1) and (2) TOGETHER are NOT sufficient.
This question is discussed here: a-construction-company-was-paid-a-total-of-500-000-for-a-construction-97745.html?fl=similar Hope it helps.
Please search before posting.
THE TOPIC IS LOCKED AND ARCHIVED.
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Data Sufficiency (DS) Forum
Still interested in this question? Check out the "Best Topics" block above for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
