When rounding a number to a certain number of significant figures, we look at the digit to the right of the last significant figure we want to keep. If that digit is 5 or greater, we round up the last significant figure. If it is less than 5, we simply drop all the digits to the right of the last significant figure.
In this case, we want to round 0.04945 to two significant figures. The last significant figure we want to keep is the 9, so we look at the digit to its right, which is 4. Since 4 is less than 5, we simply drop all the digits to the right of the last significant figure, and the rounded value is 0.049.
Therefore, the correct answer is option (ii) 0.049.