Step 1: Think about how amines dissolve.
Small amines dissolve in water because the $N-H$ part and the lone pair on nitrogen form hydrogen bonds with water.
Step 2: Check Statement-I.
As the molecular mass of an aliphatic amine rises, the carbon chain gets longer, and solubility in water drops. So Statement-I is correct.
Step 3: Check Statement-II.
The reason is that the bigger alkyl (hydrophobic) part dislikes water more and more, so higher amines become insoluble. So Statement-II is correct.
Step 4: See if II explains I.
Statement-II gives exactly the reason behind Statement-I, the growing water-hating alkyl part is why solubility falls. So II is a correct explanation of I.
Step 5: Match to the options.
Both statements are correct and II justifies I, which is the first option.
Step 6: State the answer.
\[ \boxed{\text{Both correct; Statement-II justifies Statement-I}} \]