Final answer:
The smallest interrupting rating required for a switch or breaker located at a point with a fault current of 30,000 amperes is 30,000 amperes.
Step-by-step explanation:
In order to determine the smallest interrupting rating required for a switch or breaker located at a given point on an electrical system, you need to consider the fault current available. The interrupting rating of the switch or breaker should be equal to or greater than the fault current. In this case, since the fault current available is 30,000 amperes, the smallest interrupting rating required would be 30,000 amperes (Option 2).