Given below are two statements:
Statement I : A time varying electric field is a source of changing magnetic field and vice-versa. Thus a disturbance in electric or magnetic field creates EM waves.
Statement II : In a material medium. The EM wave travels with speed $v=\frac{1}{\sqrt{\mu_0 \varepsilon_0}}$ .
In the light of the above statements, choose the correct answer from the options given below: