Correct Answer: IDMHDQNVCT

Solution : Given:
TELEVISION is coded as UDMDWKQKMP
PUNISHMENT is coded as QTOHTJKGLV

Add and subtract 1 alternatively from the place values of the first 5 letters, and add and subtract 2 alternatively from the place values of the remaining letters.
Like, TELEVISION ⇒ T + 1 = U; E – 1 = D; L + 1 = M; E – 1 = D; V + 1 = W; I + 2 = K; S – 2 = Q; I + 2 = K; O – 2 = M; N + 2 = P
Thus, TELEVISION is coded as UDMDWKQKMP.
And, PUNISHMENT ⇒ P + 1 = Q; U – 1 = T; N + 1 = O; I – 1 = H; S + 1 = T; H + 2 = J; M – 2 = K; E + 2 = G; N – 2 = L; T + 2 = V
Thus, PUNISHMENT is coded as QTOHTJKGLV.
Similarly, HELICOPTER ⇒ H + 1 = I; E – 1 = D; L + 1 = M; I – 1 = H; C + 1 = D; O + 2 = Q; P – 2 = N; T + 2 = V; E – 2 = C; R + 2 = T

So, HELICOPTER is coded as IDMHDQNVCT. Hence, the third option is correct.