Statement - I : P₄O₁₀ dehydrates HNO₃
Statement - II :In P₄O₁₀ oxidation state of P is +5

Phosphorus pentoxide is a chemical compound and the white crystalline solid is the anhydride of phosphoric acid. It is a powerful desiccant and dehydrating agent. 

Reaction of P₄O₁₀ and HNO₃ is:

${\mathrm{HNO}}_3+{\mathrm{P}}_4{\mathrm{O}}_{10}\to {\mathrm{HPO}}_3+{\mathrm{N}}_2{\mathrm{O}}_5$

Oxidation state of P in phosphorus pentoxide is +5.