The potential energy of the pendulum at the top (point A) is converted into kinetic energy at the bottom (point B), with some energy lost due to air resistance.
The initial potential energy is given by:
\[
E_{\text{initial}} = mgh = mgL(1 - \cos \theta)
\]
where \( L = 1.5 \, \text{m} \) is the length of the pendulum, and \( h \) is the vertical height.
At the lowest point, the kinetic energy is:
\[
E_{\text{kinetic}} = \frac{1}{2}mv^2
\]
The energy dissipated due to air resistance is 5% of the total energy, so the remaining energy is 95%.
Therefore:
\[
\frac{1}{2} mv^2 = 0.95 \times mgh
\]
Substituting \( h = L \), we get:
\[
\frac{1}{2} mv^2 = 0.95 \times mgL
\]
Simplifying:
\[
v^2 = 2 \times 0.95 \times gL
\]
\[
v = \sqrt{2 \times 0.95 \times 9.8 \times 1.5}
\]
\[
v \approx 5.3 \, \text{m/s}
\]
Thus, the correct answer is (c).