Correct option is C
Given: TS1, VO8, XK27, ZG64, BC125, EX216

Logic: 1st letter + 2, 2nd letter - 4 and number is increasing perfect cube of natural number.
For, 1st letter
T + 2 = V, V + 2 = X, X + 2 = Z, Z + 2 = B, B + 2 E
For, 2nd letter
S - 4 = O, O - 5 = K, K - 4 = G, G - 4 = C, C - 4 X
For, number
13= 1, 23= 8, 33= 27, 43= 64, 53= 125, 63= 216
So, EX216 is wrong term.
Thus, correct option is (c).