Mr. David deposited ₹ 100 per month in a cumulative deposit account for 1 year at the rate of 6% p.a. Statement 1: Qualifying sum of his whole deposit = ₹ 7,800. Statement 2: Let a sum ₹ P be deposited every month in a bank for n months. If the rate of interest be r% p.a., then interest on the whole deposit = . 1. Both the statements are true. 2. Both the statements are false. 3. Statement 1 is true, and statement 2 is false. 4. Statement 1 is false, and statement 2 is true.