Given below are two statementsStatement I: Compound interest involves the reinvestment of the earned interest, which in future years also earns interestStatement II: Simple interest is the amount earned or paid on a sum of compound interest and principal amountIn light of the above statement, choose the most appropriate answer from the option given below

• A. Both statement I and statement II are true
• B. Both statement I and statement II are false
• C. Statement I is correct but statement II is false
• D. Statement I is incorrect but statement II is true