The total profit of corporation K was $3,400,000 in year X. What was

Let Income in year X = I,
Costs in year X = C.

Statement 1: Income in year Y was 30 percent more than in year X.
Income in year Y = 130I/100.

Nothing is mentioned regarding the costs or profits in year Y. So we cannot calculate the profit.
So Insufficient.


Statement 2: Costs in year Y were 40 percent more than in year X.
Cost in Year Y = 140C/100.
Again an incomplete statement, since nothing is known about the income in either years. So the information is incomplete.
Thus, Insufficient.

Statement 1+ Statement 2:
Income in year Y = 130I/100.
Costs in Year Y = 140C/100.
But since we don't know the values of C and I, we cannot calculate the profit in year Y. Also, we cannot say for sure, that only income - Cost can be calculated to deduce the profit.
So overall the combination of the 2 statements is also Insufficient.


Answer E.