Study the statements carefully and select the correct option.
Statement-I: In Hindu Arabic numeral system, DCCXLVII is written as 7470.
Statement-II: Number on the abacus 
is read as Two lakh forty two thousand four hundred twenty four.
ABoth Statement-I and Statement-II are true.
BBoth Statement-I and Statement-II are false.
CStatement-I is true but Statement-II is false.
DStatement-I is false but Statement-II is true.