Option c is the correct answer. Statement 1 is correct- The Vedas are the oldest sacred texts in Hinduism and contain hymns, rituals, and philosophical teachings. The Dharmashastras are a collection of ancient Indian texts that deal with law, morality, and social customs. They prescribe different duties for the four varnas, or social classes, of Hindu society. The Vaishyas are the third varna and are traditionally associated with agriculture, trade, and commerce. The Dharmashastras prescribe that the Vaishyas should study the Vedas. Statement 2 is correct- According to the Dharmashastras, engaging in trade is one of the prescribed duties of Vaishyas. Vaishyas are traditionally associated with commerce, business, and agricultural activities.