Given below are two statements Statement I: At 8.55% rate of simple interest, a certain sum will be doubled in 12 years. Statement II: In 3 years ₹1000 will become ₹1331 at a compound interest rate of 10% per annum. In light of the above statements, choose the correct answer from the options given below:

Question

Mathematics · Interest

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Correct answer

Statement I is false but Statement II is true

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Answer 1

Statement I is false but Statement II is true

Answer 2

Statement I is true but Statement II is false

Answer 3

Both Statement I and Statement II are false

Answer 4

Both Statement I and Statement II are true

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