If it is possible to make only one meaningful word from the 4th, 5th, 8th and 10th letters of the word “INTERCHANGE” using each letter only once, then what is the last letter of the word. If no such meaningful word can be formed the answer is “X” and if more than one such meaningful word can be formed, the answer will be “Z”?

The correct option is Z.

Let us analyze the given word: INTERCHANGE.

First, we identify the positions of all the letters in the word:

1st letter: I
2nd letter: N
3rd letter: T
4th letter: E
5th letter: R
6th letter: C
7th letter: H
8th letter: A
9th letter: N
10th letter: G
11th letter: E

According to the question, we need to extract the 4th, 5th, 8th, and 10th letters:

4th letter = E
5th letter = R
8th letter = A
10th letter = G

The extracted letters are: E, R, A, G.

Now, let us check the possible meaningful English words that can be formed using each of these four letters exactly once:

1. GEAR
2. RAGE

Since more than one meaningful word can be formed (both "GEAR" and "RAGE"), according to the given instructions, the correct answer is Z.