Which answer figure will complete the pattern in the question figure?

NUMERAL : UEALRMN : : ALGEBRA : ?

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

After interchanging $$\div$$ and =, 2 and 3 which one of the following statements becomes correct ?

A word is represented by only one set of numbers as given in any one of the alternatives. The sets of numbers given in the alternatives are represented by two classes of alphabets as in two matrices given below. The columns and rows of Matrix I are numbered from 0 to 4 and that of Matrix II are numbered from 5 to 9. A letter from these matrices can be represented first by its row and next by its column, e.g., ‘D’ can be represented by 11, 25, etc., and ‘J’ can be represented by 67, 78, etc. Similarly, you have to identify the set for the given word.
“MILK”