Single Threaded Kernal and Multi threaded Application

Suppose the kernel of an OS is compiled single threaded. In this case, the multi-threaded application will get any benefit?

[New Text] Thread can be be doing operation in Kernel mode or User Mode. If Kernel is single threaded that it can do only one task at a time. I want to know how much degree it will affect? For example, Let suppose, I make Merge Sort program in 2 ways. First without multi-threading and second with multi-threading. Will I get any performance improvement in second case if kernel is single threaded, like above? If yes, then how much degree?
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