Correct option is (a) R / ((1/g || r) + R) * g * R * R / ((1/gm || r))
The best I can explain: This is a cascade of a follower stage follower by a CS stage which precedes another follower stage. The gain due to each stage gets multiplied until we reach the output. For the first stage, the gain is R/ ((1/g || r) + R). The second stage has a gain of g * R while the final stage has a gain of R/ ((1/g || r) + R). The presence of r is due to channel length modulation. After multiplying the gains, we get R/ ((1/g || r) + R) * g * R * R / ((1/gm || r)).