In the given question, statement I states that the legal interpretation of equality is mainly influenced by equality before law and equal protection of law. This means that in the eyes of the law, everyone should be treated equally and have equal protection. Statement II states that equality before law means the rule of law. This means that the concept of equality before law is closely related to the principle of the rule of law.

After evaluating both statements, we can conclude that both statements are correct. Statement I explains the two key aspects that influence the legal understanding of equality, while statement II accurately defines the concept of equality before law. Therefore, the correct answer is option 3: Both statements are correct.