Correct Answer - Option 3 : 8 hours 34 minutes 30 seconds PM

No. of hours between 4:00 AM on Thursday and 8:30 PM on Friday = 40 hours and 30 minutes

Gain in 3 hours = 20 seconds

Therefore, gain in 1 hour = 20/3 seconds

⇒ gain in 40.5 hours = 270 seconds = 4 minutes 30 seconds

Therefore, the time shown = 8:30 + 4 minutes 30 seconds

Hence, '8 hours 34 minutes 30 seconds PM' is the correct answer.