As per the Consumer Protection Act, 2019, the State commission has the jurisdiction to entertain complaints where the value of goods and services paid as consideration:

Exceeds one crore but does not exceed ten crore rupees

The correct answer is option 2- Exceeds one crore but does not exceed ten crore rupees.

State Commission: It is established by the respective state government and ordinarily function at the state capital. State Commission has a jurisdiction to entertain complaints where value of goods and services paid as consideration exceeds one crore but does not exceed ten crore rupees. If any of the parties are not satisfied by the order of State Commission can appeal against such order to the National Commission within a period of thirty days of such order.