Correct option is C
Given:
IPK, PWR, WDY, DKF, ?

Logic:
Each letter in the next term is obtained by moving +7 forward in the English alphabetical order (cyclically).
Facts & Explanation (Operation-wise):
I + 7 → P
P + 7 → W
K + 7 → R → gives PWR
P + 7 → W
W + 7 → D
R + 7 → Y → gives WDY
W + 7 → D
D + 7 → K
Y + 7 → F → gives DKF
D + 7 → K
K + 7 → R
F + 7 → M → gives KRM
Final Answer: DKF → KRM
Final Correct Option: (C) KRM