Assertion (A): Both max() and min() functions are implemented on lists as well as tuples in Python.

Reasoning (R): The max() and min() functions return the highest and the lowest among a set of values stored in a list or tuple respectively.

1. Both A and R are true and R is the correct explanation of A.
2. Both A and R are true but R is not the correct explanation of A.
3. A is true but R is false.
4. A is false but R is true.

Both A and R are true and R is the correct explanation of A.

Explanation
Both max() and min() functions are implemented on lists as well as tuples in Python. This is true because both functions can operate on any iterable, including lists and tuples. The max() function returns the highest value among a set of values, and the min() function returns the lowest value among a set of values, whether they are stored in a list or a tuple.