Answer 1) 2.55 is the correct answer.
The product of 5.2 and .49 is 2.548 and relatively easy to arrive at without a calculator (2.55). The answer is therefore, Answer 1) 2.55. The test here was not of your long-hand mathematics capabilities. This is a test of your reasoning skills, no calculations were necessary.
You should have recognized that one of the two number multiplies is .49. This is almost one half or .5. Having this in mind, any number multiplied by a fraction would have to yield a product smaller than the largest number multiplied.
This allows you to immediately eliminate Answer options 3 and 4. Each of these numbers are larger than 5.2, therefore neither could be the answer.
Leaving only Answer options 1 and 2, you should have recognized that option 1, was about half of 5.2 while option 2 is only slightly less.
