how to select text value in jquery code example

Example 1: jqury get selected option

<select id="myselect">
    <option value="1">Mr</option>
    <option value="2">Mrs</option>
    <option value="3">Ms</option>
    <option value="4">Dr</option>
    <option value="5">Prof</option>
</select>

<script>
$( "#myselect option:selected" ).val();
</script>

Example 2: how to get the selected text of dropdown in jquery

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$("#Id option:selected").text()