Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Quantitative Aptitude Interest Simple and Compound Both
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 compound interest rate of 10% per annum.
In light of the above statements, choose the correct answer from the options given below
1
Both Statement I and Statement II are true
2
Both Statement I and Statement II are false
3
Statement I is true but Statement II is false
4
Statement I is false but Statement II is true