Right option is (b) \(\frac {F}{8}\)
Easiest explanation: If the distance of a point charge, kept on the axis of a dipole, is sufficiently large than the separation between the charges of a dipole, then it can be shown that electric field E at a distance r from the dipole varies as E α \(\frac {1}{r^3}\). Now if the distance becomes 2r, electric field intensity will decrease by a factor of 2^3=8 times. Therefore the force F will now become \(\frac {F}{8}\).