Correct Answer: 951462

Solution : Given:
MADRAS is coded as 517916, and TENANT is coded as 432124.

Code the given letters of the word with an equivalent number code –
M→5; A→1; D→7; R→9; A→1; S→6
And, TENANT is coded as 432124 –
T→4; E→3; N→2; A→1; N→2; T→4
All the letters of RMATSN are present in the words MADRAS and TENANT.
So, the code for the letters of RMATSN can be extracted from the code of MADRAS and TENANT.
R→9; M→5; A→1; T→4; S→6; N→2

So, RMATSN is coded as 951462. Hence, the third option is correct.