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Option 1 : Only conclusion I follows 

For this question,

Statements: Nowadays parents are prepared to pay any fee for an elite education institute for the perfect development of their children.

This statement explains how parents blindly believe in elite education institutions for their child's development.

Conclusion I: - Parents have an obsessive passion for a perfect development of their children through good education institute.

It is completely according to the statement as it is true.

Conclusion II: - These days all parents are very well off. 

It can not be true as the statement doesn't specify about the parents financial status.

Hence, option 1 is the correct answer.

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