Concept: The question tests on the basics of computing Profit/Loss using the data provided.


A new og 2021 question

Net profit = Total sales - Total expenses

St (1):- Of the company's expenses in 2010, rent and utilities totaled $500,000.

No information is provided over the total sales or "total" expenses. Only a part of the expenses have been mentioned.(Insufficient)

St(2):-In 2010, the company sold 50,000 units of monitor P at $300 per unit and 30,000 units of monitor Q at $650 per unit.
The information provided can help us compute total sales but no information is provided on expenses.(Insufficient)

Combining both

We have the information of only a part of the expenses ($500,000) but not total expenses.

Hence insufficient. Option (e)