Statement 1− R=80Ω
When it is cut into 4 equal parts, the resistance of each part will be,
R1=R2=R3=R4=20Ω
When these resistances are connected in parallel,
Req=420=5Ω
Hence, the statement I is correct.
Statement 2 -

When the resistances are connected in parallel, the potential difference between them is same. Therefore, the power consumed can be written as,
P=RV2
⇒P2P1=(R1R2)=32
Hence, statement II is incorrect.