Correct Answer  Option 3 : 44%
The correct answer is 44%.

Momentum can be defined as the product of the mass of a particle and its velocity.
 It is denoted by p, SI unit is (Kgm)/s and Dimension is MLT^{−1}.

Newton's second law defines a force to be equal to the change in momentum with a change in time.
If Initial Momentum = p_{i, }Mass of object = m, and velocity of object = v
Kinetic Energy, K.E_{i}_{ }= 1/2 (mv^{2})
1/2 (mv2) = (1/2 (mv)^{2})/m = (1/2p^{2})/m
Now, p increases by 20% , so new momentum,
p_{f} =( p + 20% of p) = p + p/5 = 6p/5.
New Kinetic Energy = (1/2p_{f}2)/m.
So, K.E_{f }= (1/2 * (6p/5)^{2})/m = 36/25 * (1/2p2)/m.
% increase in K.E = (Change in K.E/ Initial K.E) * 100
=( ( 36/25 * (1/2p2)/m  (1/2p2)/m) / (1/2p2)/m) * 100.
So, % increase in K.E = (11/25) * 100 = 44%.
K.E = 1/2 (mv2) = 1/2 (mv)*v.
K.E = 1/2(pv),  1
But the above equation is wrong to implement in this question.
 Since p = m*v, where mass is always constant, and velocity varies, which means momentum varies because of the velocity.
 In eqn. 1, v is left out, and hence the result thus produced will be wrong.