What does the idiom ‘Jack up the rates’ mean?

Correct option is A

Option (a) is the correct meaning of the given idiom.
Given Idiom: Jack up (the rates/prices) — to raise or hike prices sharply or quickly, often to an unreasonably high level (Hindi: कीमतें बढ़ा देना/झटके से महँगा कर देना).
Example: The hotel jacked up the rates during the festival weekend.
Other related idioms and their meanings:
· Mark up (the price): increase the selling price above cost.
· Price hike: a rise in price, especially sudden or large.
· Slash prices: reduce prices dramatically.
· Price gouge: raise prices unfairly/exploitively, especially in emergencies.