Seems to me that the second option looks as if it were correct. While paraphrasing and summarizing, you are trying to shorten up an original piece of writing. Giving a well developed descriptions of main ideas isn't something to look for in paraphrasing, so that's why the first option is incorrect. In addition, restating basically everything from a text is not called paraphrasing nor summarizing, and that is why I'd rather classify it as copying.
Answer:
The old man being killed by his caretaker, who he trusts.
The narrator confesses the crime.
Explanation:
Situational irony refers to an unpredicted outcome or when the opposite of what is expected occurs. In "The Tell-Tale Heart," the author Edgar Allan Poe builds suspense through the creation of unexpected events, such as when readers find out that the narrator has murdered the old man and they become aware of what he is capable of.