The word that fits both blanks is "weight". Placed after "paper" it forms "paperweight", a small heavy object used to hold loose papers in place. Placed before "lifter" it forms "weightlifter", a person who lifts heavy weights as a sport.
Option 1, "cone", gives "papercone" which is not a standard English word, and "conelifter" does not exist either.
Option 3, "light" gives a real word "paperlight" is not standard usage, and "lightlifter" is not a recognised word.
Option 4, "fly" gives "paperfly" and "flylifter", neither of which are real words.
Only "weight" completes both compound words correctly, so option 2 is the answer.
Which of the following does not make a sensible word/phrase when added to the given word?
Word: FIRE
Which of the following does not make a sensible word/phrase when added to the given word?
Word: FIRE