Determining Profit from Revenue and Costs

Hard Data Sufficiency Determining Sufficiency

In a certain business, the profit $P$ in dollars is calculated using the formula:

$$ P = R - C $$

where $R$ represents the total revenue and $C$ represents the total costs. We want to determine the value of the profit $P$.

Statement (1): The total revenue $R$ is $200,000 and the total costs $C$ are $120,000.

Statement (2): The ratio of total revenue to total costs is 5:3.

Statement (1) alone is sufficient, but statement (2) alone is not sufficient.

Statement (2) alone is sufficient, but statement (1) alone is not sufficient.

Both statements together are sufficient, but neither statement alone is sufficient.

Each statement alone is sufficient to answer the question.

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