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Solutions
From Statement I,
Wheat discount=20%
Marked price of rice is 60% more than CP
So, Statement I alone is not sufficient to the answer the question.
From Statement II,
Difference between the discount of wheat and rice=10%
So, Statement II alone is not sufficient to the answer the question.
From I and II,
Discount offered on Rice=20-10=10%
SP of Rice=40*(90/100) =Rs.36
Then, MP=CP*(160/100)
(i.e) 40=16CP/10
CP=Rs.25
Then, Profit= 36-25=Rs.11 per kg
Total profit=11*25=Rs.275