Step 1: Concept
Chlorinated lime, also known as bleaching powder, is used as a disinfectant and bleaching agent.
Step 2: Meaning
Its efficacy is measured by the "available chlorine" content, which is the amount of chlorine released upon reaction with acids.
Step 3: Analysis
According to pharmaceutical standards (IP/BP), stable chlorinated lime should contain not less than 30% w/w of available chlorine.
Step 4: Conclusion
Therefore, 30% is the standard required concentration for its antimicrobial and bleaching properties.
Final Answer: (C)