The project manager is in the middle of the project, which is divided into five iterations. Each user story is worth $50, so the total budget for the project is $50 * 100 = $5000. The actual expenditure so far is $200, and
50 user stories have been delivered. This means that the project has spent less than the budgeted amount for the 50 user stories ($50 * 50 = $2500), so it is under budget. Since the project is in the middle and has delivered half of the user stories, it is on schedule.
References: The Project Management Professional (PMP)Certification from PMI1, PMP Examination Content Outline - June 2019 - Project Management Institute2, Professional in Business Analysis Reference Materials3.