INPUT:
$("input[name='payType']:checked").val()
SELECT:
<script language="javascript">
function selectInput(choose)
{
alert(choose.options[choose.selectedIndex].text);
}
</script>
<select name="Month" οnchange="selectInput(this)">
<option value="01">January</option>
<option value="02" selected=”selected”>February</option>
<option value="03">March</option>
<option value="04">April</option>
</select>