Given below are two statements: Statement I: In 2020 a farmer purchased 5 new tractors at Rs 2,00,000 each. He sold his 5 old tractors to other farmers for Rs 50,000 each in same year. The net increase in GDP 2020 due to these transactions was Rs 12,50,000. Statement II: In 2020 a farmer purchased 5 new tractors at Rs 2,00,000 each. He sold his 5 old tractors to other farmers for Rs 50,000 each in same year. The net increase in GDP of year 2020 due to these transactions was Rs 10,00,000. In the light of the above statements, choose the correct answer from the options given below:
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