Given below are two statements:
Statement I : The equivalent resistance of resistors in a series combination is smaller than least resistance used in the combination.
Statement II : The resistivity of the material is independent of temperature. In the light of the above statements, choose the correct answer from the options given below:

Statement I: "The equivalent resistance of resistors in series is smaller than least resistance used."

This is false. In series, $$R_{eq} = R_1 + R_2 + \ldots$$, which is always GREATER than any individual resistance. (This statement describes parallel combination, not series.)

Statement II: "The resistivity of material is independent of temperature."

This is false. Resistivity changes with temperature (for metals, it increases with temperature; for semiconductors, it decreases).

Both statements are false.

This matches option 1.