Physics
Rainbows are produced when sunlight :

Incident on rain drops hanging in the atmosphere is dispersed after suffering refraction and internal reflection.
None of the given statements is correct.
Incident on rain drops hanging in the atmosphere is dispersed after suffering refraction
Incident on raindrops hanging in the atmosphere is dispresed after suffering reflection.

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Physics
Rainbow is due to

ionisation of water deposits
absorption of sunlight in minute water droplets
refraction and reflection of sunlight by water droplets
diffusion of sunlight through water droplets

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