Statement 1: Pluto is no longer a planet of the solar system.
Statement 2: Till 2006, Pluto was a planet and it was known to be the farthest one from sun. But, it did not fit the new definition of a planet, given by the International Astronomical Union (IAU).
Both the statements are true and statement 2 is the correct explanation of statement 1.
Earlier, before the new definition of planet was set by International astronomical Union (IAU) in 2006, Pluto was considered to be a planet of the solar system. But after the new definition, it was found to be unfit.
Pluto is only 0.07 times the mass of the other objects in its orbit. The Earth, in comparison, has 1.7 million times the mass of the other objects in its orbit. Any object that doesn't meet this criteria by IAU is considered a dwarf planet not a planet.
Hence, it is no longer considered as a planet of the solar system.