Rs. 10000 is lent at the annual rate of 20 percent for 3 years. Which of the following is statement(s) is/are correct? I. Simple interest to be received on this sum is Rs. 6000. II. Compound Interest (compounding annually) to be received on this sum is Rs. 7200.
1
Neither I nor II
2
Both I and II
3
Only II
4
Only I