Explanation:

We are given four coded statements: (I) 'pic vic nic' means 'winter is cold' (II) 'tic nic ric' means 'summer is hot' (III) 'ric pic bic' means 'winter and summer' (IV) 'vic hic pac' means 'nights are cold' \nTo find the word for 'ric', we look for statements that contain the code word 'ric' and then identify the common word among them after eliminating other known codes. 'ric' appears in Statement (II) and Statement (III): (II) 'tic nic ric' = 'summer is hot' (III) 'ric pic bic' = 'winter and summer' \nLet's first find the codes for other common words: 1. **Code for 'cold':** Appears in (I) and (IV). Common code is 'vic'. So, 'cold' = 'vic'. 2. **Code for 'winter':** Appears in (I) and (III). Common code is 'pic'. So, 'winter' = 'pic'. 3. **Code for 'is':** Appears in (I) and (II). Common code is 'nic'. So, 'is' = 'nic'. \nNow, let's use these to decode 'ric':\nFrom (II): 'tic nic ric' = 'summer is hot'\nWe know 'nic' = 'is'. So, 'tic ric' = 'summer hot'. \nFrom (III): 'ric pic bic' = 'winter and summer'\nWe know 'pic' = 'winter'. So, 'ric bic' = 'and summer'. \nComparing the remaining parts of (II) and (III): 'tic ric' = 'summer hot' 'ric bic' = 'and summer' \nThe common code word is 'ric'. The common actual word is 'summer'.\nTherefore, 'ric' stands for 'summer'. \nOption (A) summer: As derived, 'ric' stands for 'summer'. This is the correct option.\nOption (B) is: 'is' stands for 'nic'. Incorrect.\nOption (C) hot: From (II), if 'summer' = 'ric' and 'is' = 'nic', then 'hot' = 'tic'. Incorrect.\nOption (D) and: From (III), if 'winter' = 'pic' and 'summer' = 'ric', then 'and' = 'bic'. Incorrect.