Choose the correct statement regarding dependence of electric potential at a point due to an electric dipole:

inversely proportional to the square of the distance from the center of dipole and depends on the angle between the position vector $\vec{r}$ and dipole moment vector $\vec{p}$

The correct answer is Option (4) → inversely proportional to the square of the distance from the center of dipole and depends on the angle between the position vector $\vec{r}$ and dipole moment vector $\vec{p}$

The potential due to Dipole (V) is -

$V=\frac{1}{4πε_0}\frac{P\cos θ}{r^2}$

Hence,

Potential falls of by $r^2$ ⇒ $V∝\frac{1}{r^2}$

Potential also depends upon angle between position vector $\vec r$ and dipole moment $\vec p$.