Solution:
The alphabetical order of the letters of the given word is A,E,M,S,R,T.
The number of words begin with A is 5!=120.
The number of words begin with E is 5!=120.
The number of words begin with MAE is 3!=6.
The number of words begin with MAR is 3!=6.
The number of words begin with MASE is 2!=2.
The number of words begin with MASR is 2!=2.
The next word is MASTER.
∴ Rank of the word MASTER=2(120)+2(6)+2(2)+1
=240+12+4+1
=257.