Given below are two statements:
Statement - I: The formula of correct length is \(\frac{\text{Measure of length}}{\text{Nominal length of Tape}}\) × Actual length of tape.
Statement - II: The formula of sag correction is - \(\frac{-W^2}{24P^2}\times L\).
In the light of the above statements, choose the correct answer from the options given below :