Odd man out: 3, 7, 15, 39, 63, 127, 255, 511
Explanation:
Each number in the series is multiplied by 2 and the result increased by 1 to obtain the next number.
So, 39 is wrong and should be replaced by (15 * 2 + 1) i.e. 31.
Hence, option 2 is the correct answer.