Step 1: Understanding the reaction.
On hydrolysis, C₆H₁₂O₃ gives a product that undergoes both the iodoform test and Tollens’ test. The iodoform test indicates the presence of a methyl ketone group (–COCH₃), and the Tollens’ test indicates an aldehyde group (–CHO).
Step 2: Conclusion.
The structure \(\text{CH}_3\text{CH}_2\text{C(OH)}\text{CH}_2\text{C(OH)}\text{CH}_3\) fits both tests, as it contains a methyl ketone group and an aldehyde group. Therefore, the correct answer is (1).