A certain company’s net profit in September was equal to 9.8% of that month’s total sales, while its net profit in October was equal to 10.3% of that month’s total sales. If total sales for both months were equal, how much net profit did the company earn in October?

(1) The company’s October net profit was $19,600 higher than its September net profit.

(2) The company’s net profit in September was $384,160.

Let Sales for each year (which is equal) is S

Profit(Sept) = 9.8 *S /100

Profit(Oct) = 10.3 *S/100

To find anything in this question we need value of Sales (S) if we have sales then we can calculate the profit for Sept and also for Oct (although only the Profit in OCt is asked)

STAT1

Profit(Oct) - Profit(Sept) = 10.3 *S/100 - 9.8 *S /100 = 0.5 * S/100 = 19,600 (given)

So, we have the value of Sales S hence we can calculate the value of Profit for oct

Hence Sufficient

STAT2

Profit(Sept) = 9.8 * S/100 = 384,160.

So, we have the value of Sales S hence we can calculate the value of Profit for oct

Hence Sufficient

So, answer is D

Hope it helps!

_________________

Ankit

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