Step 1: Use the formula for elongation of a wire.
The elongation produced in a wire is given by
\[
\Delta L=\frac{FL}{AY}
\]
where,
\[
F=\text{applied force}
\]
\[
L=\text{length of wire}
\]
\[
A=\text{cross-sectional area}
\]
\[
Y=\text{Young's modulus}
\]
Since all wires are made of the same material and same tension is applied, \(F\) and \(Y\) are constant.
Therefore,
\[
\Delta L \propto \frac{L}{A}
\]
Step 2: Express area in terms of diameter.
Cross-sectional area of a wire is
\[
A=\frac{\pi d^2}{4}
\]
Hence,
\[
\Delta L \propto \frac{L}{d^2}
\]
Step 3: Calculate \(\dfrac{L}{d^2}\) for each option.
For option (1),
\[
\frac{L}{d^2}
=
\frac{50}{(0.5)^2}
=
\frac{50}{0.25}
=
200
\]
For option (2),
\[
\frac{L}{d^2}
=
\frac{200}{(2)^2}
=
\frac{200}{4}
=
50
\]
For option (3),
\[
\frac{L}{d^2}
=
\frac{300}{(3)^2}
=
\frac{300}{9}
=
33.33
\]
For option (4),
\[
\frac{L}{d^2}
=
\frac{100}{(1)^2}
=
100
\]
Step 4: Compare the values.
The elongation is maximum for the largest value of \(\dfrac{L}{d^2}\).
Among all options, the maximum value is
\[
200
\]
which corresponds to option (1).
Step 5: Final conclusion.
Hence, the elongation is longest in
\[
\boxed{\text{Wire of length }50 \, cm\text{ and diameter }0.5 \, mm}
\]