Explanation:

Let’s break down the statements and the options briefly:

- The question: How many triangles can be formed using 12 distinct points?

- Statement I: Out of these 12 points, only 7 are collinear.

- So, 7 points in a straight line. Triangles cannot be formed from collinear points.

- Use: Triangles = Total combinations of 3 points out of 12, minus combinations from the 7 collinear points.

- So, triangles = 12C3 – 7C3, can be determined.

- Statement II: Only 5 points out of 12 are coplanar.

- Only 5 lie in one plane; the others are not coplanar. Since triangle must be in a plane, we do not know about the spacial arrangement of remaining 7 points.

- Not enough info to find number of triangles.

Options:

1. If the question can be answered by using one of the statements alone, but cannot be answered using the other statement alone.  

2. If the question can be answered by using either statement alone.

3. If the question can be answered by using both statements together, but cannot be answered using either statement alone.

4. If the question cannot be answered even by using both statements together.

Conclusion:

- Statement I alone is sufficient.

- Statement II alone is not sufficient.

Correct answer: Option 1 (your answer).