We know that 1st January 2012 is a Saturday. To find the day on 26th March 2012, we need to calculate the number of days between these two dates.
January has 31 days, so from 1st January to 31st January is 30 days.
February has 29 days in 2012 (since it's a leap year).
March has 26 days.
The total number of days from 1st January to 26th March is:
\[
30 + 29 + 26 = 85 \text{ days}.
\]
Now, divide 85 by 7 (since a week has 7 days) to find the remainder:
\[
85 \div 7 = 12 \text{ weeks with a remainder of 1}.
\]
This means 26th March 2012 is 1 day after a Saturday, which is a Sunday.
Thus, the correct answer is Friday (option 3).