Statement 2: Lithium should be kept in kerosene because it is highly reactive.
Statement 1 is true and Statement 2 is false.
Alkali metals like sodium and potassium are highly reactive and hence they are stored in kerosene. Hence statement 1 is true. Whereas lithium is an extremely volatile metal and kerosene too is a volatile liquid, if stored will float on kerosene and get exposed to air which can cause explosion so it is stored in paraffin wax