A word has been given in the question and used in the sentences below. Identify the statements where the word has been used in a contextually and grammatically correct manner.

CHARTER
(I) The school received its charter from the state and began operating as an independent institution.
(II) The company decided to charter a private jet for the executive team’s overseas trip.
(III) He bought a charter of oranges from the local fruit market.

Correct option is C

The correct answer is: (c) Both (I) and (II)
Explanation:
Let’s examine the meaning and usage of "charter" in each sentence:
Meaning of "charter" (noun/verb):
1. As a noun:
· A formal document granting rights or privileges (e.g. a school or city charter)
· In Hindi: अधिपत्र / चार्टर
2. As a verb:
· To hire or lease a vehicle (e.g. charter a bus/jet)
· In Hindi: किराये पर लेना
Sentence-wise analysis:
(I)
“The school received its charter from the state and began operating as an independent institution.”
· Here, "charter" refers to a legal document or authorization – correct usage.
(II)
“The company decided to charter a private jet for the executive team’s overseas trip.”
· "Charter" is used as a verb, meaning to hire a private jet – correct usage.
(III)
“He bought a charter of oranges from the local fruit market.”
· This is incorrect usage.
· "Charter" is not a correct term for a quantity or batch of fruit.
· Possibly confused with “crate” or “basket.”
Final Answer: (c) Both (I) and (II)