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Given below are two statements Statement I: - The product of all the digits on the dial of a telephone is 15840. Statement II:- At 10% interest rate, Rs. 10000 will become Rs. 13310 in 3 years, when interest is compounded annually. In light of the above statements, choose the correct answer from the options given below

Given below are two statements Statement I: - The product of all the digits on the dial of a telephone is 15840. Statement II:- At 10% interest rate, Rs. 10000 will become Rs. 13310 in 3 years, when interest is compounded annually. In light of the above statements, choose the correct answer from the options given below Correct Answer Statement I is false but Statement II is true

Given:

There are two statements given in the question.

Formula used:

For compound interest, A = P (1 + r/100)n

Where, A = Total amount

P = Principal amount

r = rate of interest

n = time (in years)

Calculation:

The product of all the digits on the dial of a telephone = 0 × 1 × 2 × 3 × 4 × 5 × 6 × 7 × 8 × 9 = 0

Then, the product of all the digits on the dial of a telephone is not 15840.

Hence, the statement I is false.

Now, Total amount (A) = Rs. 10000

Rate of interest (r) = 10%

Time (n) = 3 years

Total amount = 10000 (1 + 10/100)3

= 10000 × (11/10)3

= 10000 × 11/10 × 11/10 × 11/10

= 13310

Then, at a 10% interest rate, Rs. 10000 will become Rs. 13310 in 3 years, when interest is compounded annually.

Hence, the statement II is true.

Therefore, Statement I is false but Statement II is true.

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