The correct answer is (a) In hypogynous flower, ovary is present at the lower most level when compared to sepals, petals and stamens
For explanation I would say: In hypogynous flower, ovary is present at the uper most level when compared to sepals, petals and stamens. In perigynous flower, ovary is neither the bottom most whorl nor the top most whorl. Ovary in perigynous flower is called half superior ovary. Ovary in epigynous flower is called inferior ovary.