The correct choice is (d) Inter-conversion of kinetic and potential energies
Easiest explanation: When a projectile moves, there is an inter-conversion of kinetic and potential energies. This is what causes the body to cover a maximum vertical and horizontal distance. One might argue over the presence of gravity which is an external force. Well, the work done by gravity is nothing but the potential energy of the body which has already been taken care of in the expression for total energy.