Answer:
The sentence which paraphrases the excerpt correctly is:
3. In the eleventh century, explorers embarked on difficult voyages in search of religion, wealth, and competition.
Step-by-step explanation:
When we paraphrase a sentence or passage, what we basically do is to reword what was said. We simply say the same thing, but with our own words.
With that in mind, we can already eliminate option 1, since it is just a copy of the first part of the original sentence. It does no paraphrase it at all.
Options 2, 3, and 4 do paraphrase the sentence. However, options 2 and 4 have grammatical problems. Option 3 is the only one the not only says the same thing as the original sentence but also uses proper grammar. Thus, option 3 is the best choice.