Concept:
Percentage is calculated as:
\[
{Percentage} = \frac{{Defective items}}{{Total items}} \times 100
\]
Both numerator and denominator are required.
Step 1: Analyze Statement I alone.
Total items = 50,000
Number of defective items is not given.
Statement I alone is NOT sufficient.
Step 2: Analyze Statement II alone.
Defective items = 2,500
Total number of items is not given.
Statement II alone is NOT sufficient.
Step 3: Combine both statements.
\[
{Percentage} = \frac{2500}{50000} \times 100 = 5%
\]
A unique value is obtained.
Hence, both statements together are sufficient, but neither alone is sufficient.