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Q1:
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.

A Either I or II alone sufficient to answer

B Both I and II are necessary to answer

C I alone sufficient while II alone not sufficient to answer

D II alone sufficient while I alone not sufficient to answer

E Both I and II are not sufficient to answer