Select the option that is related to the third term in the same way as the second term is related to the first term.

(The words must be considered as meaningful English words and must not be related to each other based on the number of letters/number of consonants/vowels in the word.)

HORSE : GNQRD :: ANIMAL : ?​​

HORSE : GNQRD :: ANIMAL : ?​​

Logic: Apply -1 shift to each letter

HORSE → GNQRD 

H - 1 → G

O - 1 → N

R - 1 → Q

S - 1 → R

E - 1 → D

Now, for ANIMAL:

A - 1 → Z

N - 1 → M

I - 1 → H

M - 1 → L

A - 1 → Z

L - 1 → K

So, ANIMAL → ZMHLZK.

Thus, correct option is (d).