Here, $\texttt{i1}$ is a structure variable.
The function call is:
$\texttt{update(\&i1);}$
So, the address of $\texttt{i1}$ is passed to the function.
Inside the function, $\texttt{p}$ points to the original structure variable $\texttt{i1}$.
First statement:
$\texttt{p->price = p->price + 20;}$
So,
$\texttt{i1.price = 100 + 20 = 120}$
Second statement:
$\texttt{(*p).code = (*p).code + 1;}$
Here, $\texttt{(*p).code}$ is the same as $\texttt{p->code}$.
So,
$\texttt{i1.code = 10 + 1 = 11}$
Therefore, the output is:
$\texttt{11 120}$
Answer: B