Yes. It is a password and not a value.

Since the password can have 8 digits and we have total of 10 digits we have to calculate for every combination. So codes with 0-7 as digits = 10P8
codes with 0-8 as digits = 10P9
codes with 0-9 as digits = 10P10

(10P8 + 10P9 + 10P10)*12

At least 8 digits. Assuming that the password is of minimum digits only, the time required = 10P8*12
Similarly for 9 and 10 digits 10P9*12 and 10P10*12.

Since minimum assured time is asked I think the answer is 10P8*12 seconds.

Yes Ronnie said is perfectly right... It shall be 10P8 X 12/60

This will give you the total time taken for the gurrantee of accessing the database.

Also this is a good question as to Can a password start from 0 or no.

I think if not then the question should explicitly state that. Because if it does not then the answers will be wrong..;

Also if the question does not state it explicitely then, the options would be better.

It would be simple to figure out between the options...

Hope this helps...