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currently the ball is associated with two energies
kinetic energy and gravitational potential energy
there's no question about the kinetic energy of the ball as it's speed is 0
the only thing we need to discuss is about the gravitational potential energy of the ball
what is potential energy?
it is the negative of the work done by the "CONSERVATIVE FORCE"(yes that is an important chunk of the statement)
now, what is the work done by a constant force(That would be same for conservative force)?
yes you may be right it is the force times displacement in the direction of the force
but this is the case where the displacement is opposite to the direction of the action of the force
as gravity always acts downwards and the displacement is vertically upwards as the ball is being lifted so the work done will be negative.
but we talked previously that the potential energy is the negative of the work done by the conservative force (and here the conservative force is the force of gravity)
here the work done by the force is negative and to find the potential energy stored in the ball, we need to take the negative of the work done by the force
so negative of negative gives positive
so, it turns out that the potential energy of the ball is increasing
thus, finally, we have the answer that the potential energy of the ball is increasing!
my answer may be boring but if you need any help, feel free to ask anything