Let $x = 2^k$
$T(x) = 3T\left(\frac{x}{2}\right) + 1$
We can apply Master's theorem case 1 with $a = 3$ and $b = 2$ as $f(x) = 1 = O\left(x^{\log_2 3 - \epsilon} \right), \epsilon > 0 $
So, $T(x) = \Theta \left(x^{\log_2 3}\right) \\= \Theta \left( {2^k}^{\log_2 3} \right)\\= \Theta \left({2^{\log_2 3}}^k \right)\\ = \Theta \left(3^k \right)$
So, only option possible is B.
We can also directly solve as follows:
$T(x) = 3T\left(\frac{x}{2}\right) + 1$
$\\\quad= 9T \left (\frac{x}{4}\right) + 1 + 3$
$ \\\quad \vdots$
$ \\\quad= 3^{\log_2 2^k} + \left( 1 + 3 + 9 + \dots + 3^{\log_2 {2^k-1}}\right)$
$\\\quad \left(\text{recursion depth is }\log_2 x \text{ and } x = 2^k\right)$
$ \\\quad= 3^{k} + \frac{3^{\log_2 {2^k}} - 1}{3-1}$
$ \\\quad \left(\text{Sum to n terms of GP with } a = 1 \text{ and } r = 3 \right)$
$\\\quad =3^k + \frac{3^k - 1}{2}$
$\\\quad=\frac{3. 3^k - 1}{2}$
$\\\quad=\frac{3^{k+1} -1}{2} $
OR
$T\left(2^k\right) = 3T\left(2^{k-1}\right) + 1$
$ \\\quad= 3^2T\left(2^{k-2}\right) + 1 +3$
$ \quad\vdots$
$ \\\quad= 3^k T\left(2^{k-k}\right) + \left( 1 + 3 + 9 + \dots + 3^{k-1}\right)$
$ \\\quad \left(\text{recursion depth is }k\right)$
$\\\quad= 3^k + \frac{3^{k -1}} {3-1}$
$\\\quad\left(\text{Sum to n terms of GP with } a = 1 \text{ and } r = 3 \right)$
$\\\quad=3^k + \frac{3^k -1}{2}$
$\\\quad=\frac{3. 3^k - 1}{2}$
$\\=\frac{3^{k+1} -1}{2} $