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Statement: The cost of living has gone up in India. Assumptions: The price of essential commodities has gone up in recent times. Many luxury goods are available in plenty in the country.

Only assumption I is implicit
Only assumption II is implicit
Either I or II is implicit
Neither I nor II is implicit
Both I and II are implicit

Correct Answer: Both I and II are implicit

Explanation:

The cost of living is directly associated with the prices of essential commodities. So, I is implicit. II denotes an essential consequence of rise in cost of living. So, II is also implicit.

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