The correct option is C gteqw
From 6th, 7th, 10th and 11th statements, the common alphabet is 'U' and the common coded letter is 'e'. So, 'U' is coded as 'e'.
From 3rd, 5th, 6th, 8th and 11th statements, the common alphabet is 'A' and the common coded letter is 's'. So, 'A' is coded as 's'.
Again, from 8th and 11th statements, the common alphabets are 'AC' and the common coded letters are 'sq' respectively.
So, 'C' is coded as 'q'.
From 3rd, 7th and 12th statements, the common alphabet is 'L' and the common coded letter is 'g'. So, 'L' is coded as 'g'.
From 1st, 5th, 6th, 8th, 9th, 10th and 12th statements, the common alphabet is 'R' and the common coded letter is 'w'. So, 'R' is coded as 'w'.
From 1st, 4th and 7th statements, the common alphabet is 'E' and the common coded letter is 't'. So, 'E' is coded as 't'.
Therefore, 'ULCER' is coded as 'egqtw' or 'gteqw' in any order.
Hence, option (D) is the correct answer.