To form a rectangle, we must choose two horizontal sides and two vertical sides. Since there are three horizontal lines,
We can choose the horizontal sides in ${^3}C{_2}$ ways.
Similarly, to choose $2$ vertical lines out of $5$ vertical lines is ${^5}C{_2}.$
So, answer is ${5\choose 2}\times {3\choose 2}.$
Correct Answer: $C$