Explanation:

Let number of boys in the school = x

Let number of girls in the school = y

Number of students participated in the sports = 300

Out of which boys = 100

but given number of boys participated in sports = x/3

=> x/3 = 100

=> x = 300

Remaining girls = 300 - 100 = 200

=> y/2 = 200

=> y = 400

Therefore, total number of students in the school = x + y = 300 + 400 = 700

Hence, option 2 is the correct answer.