Which of the following statements about the British East India Company are true?

1. It was granted a charter by Queen Elizabeth in 1600 giving monopoly of eastern trade for an indefinite period.

2. Company’s monopoly of trade was abolished by James I in 1609.

Choose the correct answer from the options given below:

1
1 only
2
2 only
3
Both 1 and 2
4
Neither 1 nor 2

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