Step 1: Determine total resistance required at minimum current.
Minimum desired current is
\[
I_{\min} = 3 \text{ A}
\]
Using Ohm’s law,
\[
R_{\text{total,max}} = \frac{V}{I_{\min}} = \frac{120}{3} = 40 \, \Omega
\]
Step 2: Calculate maximum rheostat resistance.
Load resistance is
\[
R_L = 10 \, \Omega
\]
Hence, rheostat resistance required is
\[
R_{\text{rheostat,max}} = 40 - 10 = 30 \, \Omega
\]
Step 3: Determine total resistance required at maximum current.
Maximum desired current is
\[
I_{\max} = 5 \text{ A}
\]
\[
R_{\text{total,min}} = \frac{120}{5} = 24 \, \Omega
\]
Step 4: Check rheostat range.
At maximum current, rheostat resistance is
\[
R_{\text{rheostat,min}} = 24 - 10 = 14 \, \Omega
\]
Thus, the rheostat must be capable of varying resistance approximately between $14 \, \Omega$ and $30 \, \Omega$.
Step 5: Select nearest standard option.
From the given choices, the suitable rheostat is
\[
\boxed{20 \, \Omega \text{ with a current rating of } 10 \text{ A}}
\]
Step 6: Current rating justification.
The rheostat must safely carry the maximum current of $5 \, \text{A}$, hence a $10 \, \text{A}$ rated rheostat is appropriate.