Given below are two statements : Statement I : In order to get a mixture worth ₹16.5/kg, a grocer needs to mix two varieties of pulses costing ₹15 and ₹20 per kg respectively in the ratio 7 : 3. Statement II : A merchant has 1000 kg rice, part of which he sells at 8% profit and the rest at 16% profit. He gains 14% on the whole. The quantity of rice sold at 16% profit is 750 kg. In the light of the above statements, choose the correct answer from the options given below: