Correct Answer - Option 3 : 9.05 A.M.
Given:
One member reached the venue 20 minutes before 9.35 A.M.
∴ The time at which the first member entered = 9:35 - 20 min = 9:15 A.M
The second member came half an hour later than the first member.
∴ The time at which the second member entered = 9:15 + 30 min = 9:45 A.M
The second member was late by 40 minutes to the meeting.
∴ The time at which the meeting was scheduled = 9:45 - 40 min = 9:05 A.M
∴ The scheduled time of the meeting was 9:05 A.M.
Hence, the correct answer is "9:05 A.M".