Not sure what the answer is. But if I had to guess :
Maybe you guys will come with a different answer.
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I think it's
Circles become squares, Squares become triangles, Triangles become X's, X's become squares.
Also note that
according to this rule, the next figure in the sequence is figure number 2 in the prompt, which initiates a looping cycle (thanks @humn for this addition!)
b) is the answer
The figure in the middle is composed of an enlarged version of the top left symbol, and the bottom-right symbol. b) is the only figure that fits that rule.
I think is
the central big figure is always a copy on the top left figure, the central small figure is always a copy of the bottom right figure
from initial position.. Left top and center outer takes the shape of the center inner symbol. center inner becomes top right. left-bottom, right-top, and right-bottom cycle around.
so, from 3rd position, top left and center outer become X, center inner becomes square, left-bottom becomes X, right-top becomes triangle and right-bottom becomes square, which describes B
IMO it's B . Choices are given to force you to do complete work out. Look at B and E. They are same . High probability for the Right answer to fall in them. When you work out and arrive at the central figure , B and E choices force you to further work to choose. Look at B it has common corner figures with other choice. I didn't do any deduction to derive the sequence. Just by looking the choices we can manipulate the correct answer without the looking at the question too. Maybe it doesn't work Everytime.
The top right shape seems to be the next shape to be inside the bottom right shape, given a top right square and bottom right x, we can assume that it should be a square within an x. After that, the next resultant image would then be a circle within a square, as opposed to a triangle in a square which would seem odd for the sequence.