Given below are two statements

Statement I: According to Classical Indian Logicians, all fallacies are material fallacies.

Statement II: According to Classical Indian Logicians, fallacies could be purely formal as well as purely informal.

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

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

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