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7/216 is the correct answer. The simplest way to do it is as putneyswope mentioned.
gmatfundoo: your approach is a good example for how complicated thinking will frequently result in wrong answers. in your answer 1/24 (= 9/216 = 7/216 + 2/216) you've somehow counted the occurence of 5,5,5 combination thrice. If all the possible products are listed, 125 will occur only once and not thrice as you've calculated. hence your answer exceeds the actual probability by 2/216.
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