Rs. 6000 is lent at the annual rate of 10 percent for 2 years. Which of the following is statement(s) is/are correct?
I. Simple interest to be received on this sum is Rs. 1200
II. Compound interest (compounding annually) to be received on this sum is Rs. 1260

A

Statement I is correct

B

Both statement I and II are correct

C

Statement II is correct

D

None of them are correct