Explanation:

Let the first and the third parts be 3x and 5x.

Second part = 1/4 of third part.

= (1/4) × 5x = 5x/4

Therefore, 3x + (5x/4) + 5x = 370

(12x + 5x + 20x)/4 = 370

37x/4 = 370

x = (370 × 4)/37

x = 10 × 4

x = 40

Therefore, first part = 3x

= 3 × 40 = $120

Second part = 5x/4

 = 5 × 40/4 = $50

Third part = 5x

 = 5 × 40 = $ 200

Hence, option 2 is the correct answer.