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### Discussion :: Profit and Loss

1.  By selling a product with 20% profit, how much profit was earned?

I.The difference between cost and selling price is Rs. 40.

II.The selling price is 120 percent of the cost price.

2. A.

I alone sufficient while II alone not sufficient to answer

B.

II alone sufficient while I alone not sufficient to answer

C.
 Either I or II alone sufficient to answer
D.

Both I and II are not sufficient to answer

E.

Both I and II are necessary to answer

Explanation :

Gain = 20%

I. Profit = (S.P.) - (C.P.) = Rs. 40.

Thus, I give the answer. But, II does not give the answer.

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