Let's start with our conversion factor for ounces and pounds.
16 ounces = 1 pound
Now, let's writ down what we know.
1 bag of chips = 4 ounces
2 bags of chips = 8 ounces
3 bags of chips = 12 ounces
4 bags of chips = 16 ounces or 1 pound
5 bags of chips = 20 ounces
6 bags of chips = 24 ounces
7 bags of chips = 28 ounces
8 bags of chips = 32 ounces or 2 pounds
Now, it's very easy to see that 8 bags of chips is not more than 3 pounds.