The particle is moving on a circle, but with variable velocity. So it s a non-uniform circular motion. You see this immediately because the centripetal acceleration is not constant. This means that there is some power given/taken to the particle.
The text gives you the component of the acceleration along the radius of curvature (centripetal acceleration), but it does not say that the tangential acceleration is 0. In fact, it cannot be 0: there must be a tangential acceleration which increases the speed of the particle.
Anyway:
from $r.r = const$ (circular motion)
derive once and get $2 v.r= 0$, so $v$ is orthogonal to $r$ (as we concluded before).
Derive a second time $ v.r= 0$ and get $a.r+v.v=0$.
The first term is minus the centripetal acceleration (which is $-a.n_r$) times the length of $r$, so is $-k^2r^2t^2$ ($r$ is pointing outward, the centripetal acceleration must point toward $-r$ ie. inward and $n_r$ is a unit radial vector).
So you have $-k^2r^2t^2+v.v=0$. Multiply by $1/2m$ and derive again and note that the second term is the derivative of the kinetic energy, ie. power received
$$d/dt(-1/2mk^2r^2t^2+1/2mv.v)=0$$
$$-mk^2r^2t+P=0$$
and you get answer b correctly