Which of the following statement is correct?
I. If amount = Rs. 26500, time = 5 years, and rate of interest = 16.5 percent per annum, then the principal is Rs. 14000 on simple interest.
II. If principal = Rs. 22000, amount = Rs. 39160 and time = 6 years, then at simple interest rate of interest is 13 percent per annum.

Correct option is C

Given:
I. If amount = Rs. 26500, time = 5 years, and rate of interest = 16.5 percent per annum.
II. If principal = Rs. 22000, amount = Rs. 39160 and time = 6 years.

Formula Used:
​$$\text{Simple Interest (SI)} = \frac{P \times R \times T}{100}$$​​
Amount = Principal  + Simple Interest
Solution:
Statement I:
​$$\begin{align*}& 26500 = P + \frac{P \times R \times T}{100} \\& 26500 = P + \frac{P \times 16.5 \times 5}{100} \\& 26500 = P \left(1 + \frac{16.5 \times 5}{100}\right) \\& 26500 = P \left(1 + \frac{82.5}{100}\right) \\& 26500 = P \left(\frac{182.5}{100}\right) \\ & P = 26500 \times \frac{100}{182.5} \\& P \approx 14520.55 \\ & P \ne \text{Rs }14000\end{align*}$$​​
Statement II:
​$$39160 = 22000 + \frac{22000 \times 6 \times R}{100} \\17160 = \frac{22000 \times 6 \times R}{100} \\R = 13$$​​