What is the major criticism of the payback and simple rate of return methods of making capital

Question:

What is the major criticism of the payback and simple rate of return methods of making capital budgeting decisions?

Capital Budgeting
Capital budgeting is a practice or method of analyzing investment decisions in capital expenditure, which is incurred at a point of time but benefits are yielded in future usually after one year or more, and incurred to obtain or improve the...