Mathematics · Interest Calculations
Given below are two statements: Statement I: The compound interest on ₹280 for 18 months at 10% per annum compounded annually is ₹44.3. Statement II: At a 5.6% rate of simple interest, a certain sum will be doubled in 15 years. In light of the above statements, choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement I is false but Statement II is true
- 2Statement I is true but Statement II is false
- 3Both Statement I and Statement II are false✓
- 4Both Statement I and Statement II are true
Correct answer
Both Statement I and Statement II are false
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