Step 1: Understanding the Concept:
We need to evaluate the limit of a function of two variables as \((x, y) \to (0, 0)\).
Step 2: Key Formula or Approach:
We can use polar coordinates: \(x = r \cos \theta\), \(y = r \sin \theta\).
Then \(x^2 + y^2 = r^2\), and \(x^2 y = r^2 \cos^2 \theta \cdot r \sin \theta = r^3 \cos^2 \theta \sin \theta\).
Step 3: Detailed Explanation:
\[
\frac{x^2 y}{x^2 + y^2} = \frac{r^3 \cos^2 \theta \sin \theta}{r^2} = r \cos^2 \theta \sin \theta
\]
As \((x, y) \to (0, 0)\), \(r \to 0\).
Since \(|\cos^2 \theta \sin \theta| \le 1\), the limit is 0.
So, the limit exists and is equal to 0.
Step 4: Final Answer:
Therefore, option (B) is correct.