The correct option is option 3. The President can dismiss a member of the Council of Ministers on the recommendation of the Prime Minister. The Council of Ministers is collectively responsible to the Parliament, and the Prime Minister is the head of this council. Typically, the Prime Minister has the authority to recommend the dismissal of a minister to the President. The President, who is the head of the state, usually acts on the advice of the Prime Minister. However, it is important to note that the President can only dismiss a member of the Council of Ministers based on the recommendation of the Prime Minister and not on his own. Therefore, among all the options provided, option 3 is the most accurate explanation of the President`s authority to dismiss a member of the Council of Ministers.