The inverse of a diagonal matrix is obtained by taking the reciprocal of the diagonal elements. For
\[ A = \begin{bmatrix} 2 & 0 & 0 \\ 0 & 3 & 0 \\ 0 & 0 & 5 \end{bmatrix}, \]the diagonal elements are 2, 3, and 5. Thus:
\[ A^{-1} = \begin{bmatrix} \frac{1}{2} & 0 & 0 \\ 0 & \frac{1}{3} & 0 \\ 0 & 0 & \frac{1}{5} \end{bmatrix}. \]This matches option (A).
Final Answer: \[ \boxed{(A)} \]