Statement I: Karishma earns a monthly salary of ₹50,000. She donates ₹5000 to charity and spends ₹6000 for groceries. The reciprocal of the fraction corresponding to her savings is $= \dfrac{50}{39}$.

Statement II: As $\dfrac{50}{39} \times \dfrac{39}{50} = 1$, therefore, $\dfrac{50}{39}$ and $\dfrac{39}{50}$ are reciprocals of each other.

1. Statement I is true but statement II is false.

2. Statement I is false but statement II is true.

3. Both Statement I and statement II are true.

4. Both Statement I and statement II are false.

According to Statement I,

Total salary = ₹50,000.

Total spent = 5000 + 6000 = ₹11,000.

Savings = 50,000 - 11,000 = ₹39,000.

Fraction of savings = $\dfrac{39,000}{50,000} = \dfrac{39}{50}$.

Reciprocal of $\dfrac{39}{50}$ = $\dfrac{50}{39}$.

∴ Statement I is true.

According to Statement II, two numbers are reciprocals of each other if their product is 1.

$\dfrac{50}{39} \times \dfrac{39}{50} = \dfrac{50 \times 39}{39 \times 50} = 1$.

So, $\dfrac{50}{39}$ and $\dfrac{39}{50}$ are reciprocals of each other.

∴ Statement II is true.

Both Statement I and Statement II are true.

Hence, option 3 is the correct option.