Flip 2 switches.
Check to see if the light is on.
If it is not then you know it's the 3rd switch.
If the light is on ... then ...
crap.
This is why I stay away from these goddamn riddles.
I'll give you fifty bucks if you tell me the answer right now.
[edit]
Oh, wait!
Does it have something to do with the capital "G" in LiGht?
G...
G...
I know...It's a Ghost! (obviously)
There.
Problem solved.
Goodnight!