Find the missing term that can replace the question mark (?) in the series given below : A2Y, B8V, D33R, ?, K765G.

Let's look at the first letters of all the given terms first.

From A to B, we skip no letters.

From B to D, we skip one letter.

Hence, from D, we'll skip 2 letters (E,F) to go to G. Hence, Options 2 and 3 are eliminated.

Now Options 1 and 4, both have G and M as their first and last letters respectively. We only have to figure out the relation between the numbers.

Now this one is surely tricky.

Taking 2 from the first term, we multiply by 2 and add 4 to go to 8.

$=2\times2+4=8$

Then, from 8, we multiply by 3 and add 9 to go to 33.

$=8\times3+9=33$

The pattern here is multiplying by consecutive numbers, starting from 2, and adding to it, the square of that number. As we can see above, $4=2^2$ and $9=3^2$

Hence, the next number should be $33\times4+16=132+16=148$ $(16=4^2)$

Hence, the answer is G148M.