Question about the Frame Generation and MFG

Let's say that I have a 240Hz display with a fps cap at 240 fps, and a game running at 190 fps.

What happens when I enable Frame Gen? Will the game drop to 120 fps to have 1 rendered and 1 generated frame, or would I get only one generated frame every 3-4 rendered frames to fill the 50 fps "gap" from 190 to 240 fps?

Similarly, if I enable MFG at x3 and x4 under the same conditions of 190 fps and a 240 fps cap, will the game's fps drop to 80 and 60, respectively, to generate double and triple frames?