Concept:
Moment of inertia about $X$-axis for point masses:
\[
I = \sum m y^2
\]
(where $y$ = perpendicular distance from $X$-axis)
Step 1: Identify coordinates of masses
From diagram:
• Mass at $(0,0)$ → $y = 0$
• Mass at $(a, a)$ → $y = a$
• Mass at $(a, -2a)$ → $y = -2a$
• Mass at $(3a, 0)$ → $y = 0$
Step 2: Calculate moment of inertia
\[
I = m(0)^2 + m(a)^2 + m(-2a)^2 + m(0)^2
\]
\[
I = 0 + ma^2 + 4ma^2 + 0
\]
\[
I = 5ma^2
\]
Final Answer: Option (B)