The equation represents an ellipse, if
Given equation is
⇒
Comparing with standard equation we get
⇒ λ - 2>0
⇒ λ>2 .... - (1)
⇒ 5 - λ>0
⇒ λ<5 .... - (2)
From (1) and (2),
⇒ 2<λ<5
∴ The correct option is C