The price of an article was ₹ 680 last year. This year its price is ₹ 816. The percentage change in the price is :

1. (816 - 680)% increases

2. (816 - 680)% decreases

3. $\dfrac{816 - 680}{680}\times 100$% increases

4. $\dfrac{816 - 680}{816}$% increases

Statement 1: To change a number in percentage to a ratio, write it as fraction with denominator 100 and then reduce it to the lowest term if possible.

Statement 2: A percentage can be converted to a fraction by removing sign of % dividing by 100.

Which of the following options is correct?

1. Both the statements are true.

2. Both the statements are false.

3. Statement 1 is true, and statement 2 is false.

4. Statement 1 is false, and statement 2 is true.

Assertion (A) : If we decrease ₹ 120 by $12\dfrac{1}{2}\%$, then decreased amount = ₹ 105.

Reason (R) : Percentage change = $\Big(\dfrac{\text{Actual change (increase/decrease)}}{\text{Original quantity}} \times 100\Big)\%$.

1. Both A and R are correct, and R is the correct explanation for A.

2. Both A and R are correct, and R is not the correct explanation for A.

3. A is true, but R is false.

4. A is false, but R is true.

Assertion (A) : By increasing ₹ 320 by 20%, we obtain the increased amount = ₹ 348.

Reason (R) : To increase a quantity by a percentage, we first find the percentage of the quantity and then add it to the original quantity.

1. Both A and R are correct, and R is the correct explanation for A.

2. Both A and R are correct, and R is not the correct explanation for A.

3. A is true, but R is false.

4. A is false, but R is true.