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The correct answer is option 1, Deccan Education Society. Fergusson College was established in Pune in the year 1885 by the Deccan Education Society.
Now let`s look at the other options to understand why they are not the correct answer:
Option 2, Bhartiya Sewak Samaj, is not the correct answer because this organization is not associated with the establishment of Fergusson College.
Option 3, Samaj Sewa Sangh, is also not the correct answer because this organization is not linked to the establishment of Fergusson College.
Option 4, Theosophical Society, is not the correct answer because it is an international organization focused on spiritual teachings and does not have any direct association with the establishment of Fergusson College.
Therefore, the correct answer remains option 1, Deccan Education Society, as they were the ones who established Fergusson College in Pune in 1885.