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 per cent of the cost price.

Give answer (A) if the data in statement I alone are sufficient to answer the question, while the data in statement II alone are not sufficient to answer the question.

Give answer (B) if the data in statement II alone are sufficient to answer the question, while the data in statement I alone are not sufficient to answer the question.

Give answer (C) if the data either in statement I alone or in statement II alone are sufficient to answer the question.

Give answer (D) if the data even in both statements I and II together are not sufficient to answer the question

Give answer (E) if the data even in both statement I and II together are necessary to answer the question.