The correct IUPAC name of the following compound is

Step 1: Identifying Functional Groups and Priority

• Substituents: Nitro ($-\ce{NO2}$), Chloro ($-\ce{Cl}$), Methyl ($-\ce{CH3}$).
• Benzene derivatives are named by giving lowest possible locants to substituents alphabetically.
• Alphabetical priority: Chloro (C) > Methyl (M) > Nitro (N).
• Step 2: Numbering Numbering as 1-chloro, 2-methyl, 4-nitro gives the set $(1, 2, 4)$. Any other numbering gives higher locant sets like $(1, 3, 4)$ or $(1, 2, 5)$.

Step 3: Conclusion Name: 2-chloro-1-methyl-4-nitrobenzene.

$\boxed{\text{Answer: (c) 2-chloro-1-methyl-4-nitrobenzene}}$