premise: After the Securities and Exchange Board of India (Sebi) reopened the door to new fund offers (NFOs) in the equity segment, a large number of fund houses have lined up a spate of fresh schemes. As many as five open-end schemes were launched in August, two more are currently open for subscription, and a draft prospectus for more schemes has been filed by the fund houses. “The market regulator didn’t approve schemes in the past year and a half as it first wanted the fund houses to implement the re-categorisation norms. Sebi was concerned about the overlapping of schemes and ...
hypothesis: As many as (5*4) open-end schemes were launched in August.
reason: As many as 5 schemes were launched, not as many as 20. It's difficult because the system does not understand that (5*4) is not the same thing as 5, so it judges the statement as correct.