Correct Answer: Your sister will say, "I have lost my pen again."

Solution : The second option is the correct answer.

Direct speech is a form of speech or writing where the actual words spoken by a person are quoted within quotation marks and attributed to the speaker.

The change from indirect speech to direct speech involves the following steps:

• If the reporting verb (first part) of the sentence is in the present or future tense, the tense of the reported speech is not changed while converting direct speech into indirect speech.
• In the given sentence, the reported speech is in the present perfect tense; thus, it will remain the same in both direct and indirect speech.
• In indirect speech, the pronoun changes according to the speaker, whether she or he is referring to himself, herself, or a third person. Here, "she" will change to "l".
• The words of the speaker are enclosed within quotation marks.

Therefore, the correct answer is: Your sister will say, "I have lost my pen again ."