Official solution
Given,
A2 - 5A + 7I = 0
\[ \Rightarrow \] A2 - 5A = - 7I
\[ \Rightarrow \] AAA-1 - 5AA-1 = - 7IA-1
\[ \Rightarrow \] AI - 5I = - 7A-1
\[ \Rightarrow \] A - 5I = - 7A-1
\[ \Rightarrow \] A-1 = \[{1 \over 7}(5I - A)
Hence, statement 1 is true.
Now A3 - 2A2 - 3A + I
= A(A2) - 2A2 - 3A + I
= A(5A - 7I) - 2A2 - 3A + I
= 5A2 - 7A - 2A2 - 3A + I
= 3A2 - 10A + I
= 3(5A - 7I) - 10A + I
= 15A - 21A - 10A + I
= 5A - 20I
= 5(A - 4I)
So, statement 2 is also correct.