In a certain coding system, each vowel in a word is replaced by the next letter of the English alphabet ($+1$) and each consonant is replaced by the previous letter of the English alphabet ($-1$). What will be the coded form of the word "INFORMATION"?

Let's classify each letter of the word "INFORMATION" as a vowel or consonant and apply the rule:
* $\text{I}$ (Vowel) $\to +1\to \text{J}$
* $\text{N}$ (Consonant) $\to -1\to \text{M}$
* $\text{F}$ (Consonant) $\to -1\to \text{E}$
* $\text{O}$ (Vowel) $\to +1\to \text{P}$
* $\text{R}$ (Consonant) $\to -1\to \text{Q}$
* $\text{M}$ (Consonant) $\to -1\to \text{L}$
* $\text{A}$ (Vowel) $\to +1\to \text{B}$
* $\text{T}$ (Consonant) $\to -1\to \text{S}$
* $\text{I}$ (Vowel) $\to +1\to \text{J}$
* $\text{O}$ (Vowel) $\to +1\to \text{P}$
* $\text{N}$ (Consonant) $\to -1\to \text{M}$

Putting the coded letters together: $\text{JMEPQLBSJPM}$.
This matches option B.