Statement I is true because the −OCH3 group is an electron-donating group. It donates electron density through resonance (+R effect), which delocalizes the positive charge of the carbocation and stabilizes it.
Statement II is true because the −NO2 group is a strong electron-withdrawing group. It withdraws electron density through resonance (−R effect), which delocalizes the negative charge of the carbanion and stabilizes it.
Therefore, both Statement I and Statement II are true.
Answer: Both Statement I and Statement II are true