Education plays a great transformatory role in life, particularly so in this rapidly changing and globalizing world. Universities are the custodians of the intellectual capital and promoters of culture and specialized knowledge. Culture is an activity of thought, and receptiveness to beauty and human feelings. A merely well-informed man is only a bore on God's earth. What we should aim at is producing men who possess both culture and expert knowledge. Their expert knowledge will give them a firm ground to start from and their culture will lead them as deep as philosophy and as high as art. Together it will impart meaning to human existence.

Correct Option (B)

Assumption 2 is valid. The passage explicitly states, "A merely well-informed man is only a bore on God's earth" and advocates for producing individuals who possess both culture and expert knowledge. It further asserts that culture will lead them "as deep as philosophy and as high as art," imparting meaning to human existence. This directly implies that an education focused solely on information without cultural depth is considered incomplete by the author.

Incorrect Options:

Assumption 1 is not valid. While the passage emphasizes education's significant transformational role, it does not assert that a society cannot be transformed into a modern society without well-educated people. The passage highlights the importance of education but does not present it as the exclusive or indispensable condition for societal modernization. The statement makes an absolute claim that is not directly supported or implied by the text.