Bolts are classified as grade x.y where x and y represents what ?

1
x represents 1/100th of ultimate tensile strength  and y represents the ratio of yield stress to ultimate tensile stress
2
x represents the ratio of yield stress to ultimate tensile strength and y represents 1/100th of ultimate tensile stress
3
x represents 1/100th of ultimate tensile strength and y represents the 1/100th of yield stress
4
x represents 1/100th of yield stress and y represents 1/100th of ultimate tensile strength

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