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 from sun, but after the new definition of planet by International Astronomical Union (IAU), it was no longer found to fit this definition.
Both the statements are true and statement 1 is the correct explanation of statement 2.
Earlier before the new definition of planet set by International astronomical Union (IAU) in 2006, Pluto was considered to be the planet of the solar system, But after the new definition was not found to fit the new definition set by IAU.
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 3rd criteria by IAU is considered a dwarf planet not a planet.
Hence, it is no longer considered as the planet of the solar system.