Step 1: Concept
Factorize the known equation to find the individual lines.
Step 2: Analysis
$6x^{2}-xy-5y^{2}=0 \implies (6x+5y)(x-y)=0$.
The common line is either $x-y=0$ or $6x+5y=0$.
Step 3: Calculation
Case 1: $y=x$. Substitute in $3x^{2}-5x(x)+px^{2}=0 \implies 3-5+p=0 \implies p=2$.
Case 2: $y=-6x/5$. Substitute in $3x^{2}-5x(-6x/5)+p(-6x/5)^{2}=0 \implies 3+6+p(36/25)=0$
$9 + 36p/25 = 0 \implies p = -25/4$.
Step 4: Conclusion
Hence, $p = 2, -25/4$.
Final Answer: (C)