Consider the following Assertion and Reason:

Assertion (A): The East India Company had the sole right to trade with the East.

Reason (R): Queen Elizabeth I granted a charter to the East India Company in 1600.

1
Both A and R are true, and R is the correct explanation of A
2
Both A and R are true, but R is not the correct explanation of A
3
A is true, but R is false
4
A is false, but R is true

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