The profits of Biscuits India Ltd soared by 32% in the year 2006 - 07 as compared to year 2005 - 06. By what % did Biscuits India’s Sales increase in 2006 - 07 compared to the previous year? ( ssume: Profit = Sales - Expenses) Decide whether the information given in the two statements is sufficient to solve the problem.
Statement (1): Expenses in 2006 - 07 were Rs 1,400 crores, as compared to Rs 1,220 crores in 2005 - 06
Statement (2): Sales in 2006 - 07 were Rs 4,300 crores

Considering statement 1 alone, we can make a table as follow:

We get S-1220=P and S'-1400=1.32P

Since there are 3 variables, S, S' and P, we cannot get the values of the variable using the two equations alone. 

So, Statement 1 alone is not sufficient.

Using statement 2, 1.32P= 4300

=> P= 4300/1.32. But again, two variables, S and S' are unknown.

So, So, Statement 1 alone is not sufficient.

When we use both the given statements, we will have 

S-1220=4300/1.32 and 

S'-1400=4300.

Using these two equations, we can find S and S' respectively and hence answer the question asked.

Therefore, both statements are necessary to answer the question.