Given below are two statements.
Statement I: Pig iron is obtained by heating cast iron with scrap iron.
Statement II: Pig iron has a relatively lower carbon content than that of cast iron.
In the light of the above statements, choose the correct answer from the options given below.

We need to evaluate two statements about pig iron and cast iron.

Assessing the claim that "Pig iron is obtained by heating cast iron with scrap iron" reveals that it is incorrect. The correct facts are as follows:

- Pig iron is obtained directly from the blast furnace by smelting iron ore. It contains about 4% carbon.

- Wrought iron (not pig iron) is obtained by heating cast iron/pig iron with scrap iron and haematite in a reverberatory furnace (pudding process).

- Cast iron is obtained by melting pig iron with scrap iron and coke in a cupola furnace.

Turning to the second statement—that "Pig iron has a relatively lower carbon content than that of cast iron"—we again find it to be incorrect. Pig iron has about 4% carbon, while cast iron has about 3%, indicating that pig iron actually has a higher carbon content.

Thus, the correct choice is Option B.