Step 1: Analyze Statement I
Hydrogen peroxide \( (\mathrm{H_2O_2}) \) is amphoteric in redox behavior:
- It acts as an **oxidising agent** in acidic medium (e.g., liberating \( \mathrm{O_2} \) from iodide).
- It also acts as a **reducing agent** (e.g., reducing \( \mathrm{KMnO_4} \) or \( \mathrm{Cl_2} \)) in basic medium.
Thus, Statement I is **correct**.
Step 2: Analyze Statement II
"10 Volume" hydrogen peroxide implies that 1 mL of solution gives 10 mL of \( \mathrm{O_2} \) at STP. This corresponds to **approximately 3% (w/v)** solution, **not 6%** as mentioned.
Thus, Statement II is **incorrect**.
Conclusion:
Only Statement I is correct.