Directions: In the following question, two statements are numbered as Quantity I and Quantity II. On solving these statements, we get quantities I and II respectively. Solve both quantities and choose the correct option.

Quantity I: An item is being sold at a profit of 40 ₹. Since cost price increased by 87.5%, the selling price is also increased by 87.5%. Find the new selling price if the new cost price is 555 ₹.

Quantity II: 70kg of salt is purchased for 2100 ₹ and is sold at a profit equal to the selling price of 20 kg of salt. Find the selling price in ₹/kg.