Correct Answer: 12201215

Solution : Given:
STAR is coded as 92678, and FLAG is coded as 20261521.

The letters of the given words are coded as the place value of their opposite letters and are reversed as shown below –
Opposite letter pairs of STAR; S→H(8); T→G(7); A→Z(26); R→(9)

Thus, STAR is coded as 92678.
Now, opposite letter pairs of FLAG; F→U(21); L→O(15); A→Z(26); G→T(20)

Thus, FLAG is coded as 20261521.
Similarly, follow the same pattern for LOGO –
Opposite letter pairs of LOGO; L→O(15); O→L(12); G→T(20); O→L(12)

So, LOGO is coded as 12201215. Hence, the first option is correct.