Correct Answer:

Solution : According to the given figures –
1. The number of small circles surrounding the small square is increased by one in each figure series as compared to the previous figure in an anticlockwise direction.
2. The position of small circles outside the sides of the square is constant in each figure.
3. One small circle is added in the outside of the square from the bottom left corner of the square in an anticlockwise direction.

So, following the above pattern, the required figure will be as follows –

Hence, the first option is correct.