The correct answer is option 3 i.e. 5.8.
According to the given question,
[(741)2 - (554)2] ÷ 554 × 916
Applying the rule of BODMAS,
⇒ [(429)2 - (529)2] ÷ 529 × 916
⇒ [{429 + 529}{429 - 529}] ÷ 529 × 916
⇒ [20261 × 2029] ÷ 529 × 916
⇒ 4007569 ÷ 529 × 916
⇒ 4007569 × 295 × 916 = 529
⇒ 5.8
Hence the required answer is 5.8.