Answer is C
Suppose the vessel initially contains 8 litres of liquid. Let x litres of this liquid be replaced with water.
Quantity of water in new mixture = $(3-\frac{3x}{8}+x)$ litres
Quantity of syrup in new mixture = $(5-\frac{5x}{8})$ litres
$(3-\frac{3x}{8}+x)$ = $(5-\frac{5x}{8})$
5x + 24 = 40 - 5x
10x = 16
∴ x = $(\frac{8}{5})$
So, the part of mixture replaced = $(\frac{8}{5} * \frac{1}{8})$ = $\frac{1}{5}$