Given below are two statements : 

Statement I : will undergo alkaline hydrolysis at a faster rate than 

Statement II : , intramolecular substitution takes place first by involving lone pair of electrons on nitrogen. 

In the light of the above statements, choose the most appropriate answer from the options given below : 

1
Both Statement I and Statement II are incorrect 
2
Statement I is incorrect but statement II is correct
3
Both Statement I and Statement II are correct 
4
Statement I is correct but Statement II is incorrect

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