get the dropdown value and text using jquery

we have a drop down an ID, Name Pair.
Example

Rahul has ID of 1
Chand has ID of 2
Parthavi has ID of 3
When I do the followng:

alert($('#Crd').val());

and we select Rahul , we get 1

but in case we want selected text in jquery for a dropdown
then

$('#dropdownId option:selected').text();