Informal meanings:-
Blocking factor = Number of records in a block (DBMS terminology)
Load factor = Number of keys associated with each cell/slot/bucket (Hashing terminology)
Here, blocking factor would mean each block contains how many buckets.
So, $bfr*N$ gives total number of buckets.
And $\text{total number of buckets} * \text{load factor}$ would give the number of records.
So, Option D