Working Capital:
Working capital is the difference between a company's current assets and its current liabilities. It represents the funds available to a company for its day-to-day operations. A positive working capital indicates that a company has enough assets to cover its short-term liabilities and is generally considered a good sign.

Current Assets:
Current assets are assets that are expected to be converted into cash within one year or one operating cycle, whichever is longer. They include cash, accounts receivable, inventory, and other short-term assets. Current assets are an important indicator of a company's liquidity and its ability to meet short-term obligations.

Current Ratio:
The current ratio is a financial metric that measures a company's ability to pay off its current liabilities with its current assets. It is calculated by dividing current assets by current liabilities. The current ratio is used to assess a company's short-term solvency and liquidity.

Calculation:
In this case, the working capital of IAN Ltd. is 2,00,000 and its current assets are 6,00,000. To calculate the current ratio, we divide the current assets by the current liabilities.

Current Ratio = Current Assets / Current Liabilities

Since the question does not provide information about the current liabilities, we cannot calculate the exact current ratio. However, we can determine the minimum value of the current ratio.

Minimum Current Ratio:
To find the minimum current ratio, we assume that the current liabilities are equal to the working capital. Therefore, the current liabilities would also be 2,00,000.

Current Ratio = 6,00,000 / 2,00,000
Current Ratio = 3

So, the minimum current ratio in this case is 3.

Correct Answer:
The correct answer is option (d) 3.