I found an answer that how to convert the color images into Gray(B/W) scale, refer the below link:
PNG figures in black and white
But if I follow the suggestion, i.e., dvips -I g , then some error "dvips: ! Invalid option `-I'. Try --help for more information. " is coming, please suggest what went wrong with my tag and my tags are follows:
\documentclass{book}
\usepackage{color,graphicx}
\begin{document}
\begin{figure}
\centerline{\includegraphics{Color.eps}}
\end{figure}
\end{document}
ps2pdf, try including the options-sColorConversionStrategy=Gray -dProcessColorModel=/DeviceGray– Nicola Talbot Apr 19 '17 at 10:46