A piece of paper is folded and punched as shown below in the question figures. From the given answer figures, indicate how it will appear when opened.

When the paper is unfolded first to the top, a circle will at center and a rhombus will appear at the top.

When the paper is unfolded again, opened curves towards left will appear at the top and bottom part. Two rhombus will appear similarly one each on the top and bottom part.

When the paper is unfolded again to the left, similar pattern will appear on the part like in the right part.

$$\therefore\ $$When the paper is unfolded it will appear as shown below

Hence, the correct answer is Option D