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The logic followed here is:
The sum of the place value of the 1st letter of the 1st word and the last letter of the 2nd word gives the coded number.
In WORD - LUCK:
'W' is the 1st letter in "WORD" → Place value of W = 23
'K' is the last letter in "LUCK" → Place value of K = 11
WORD - LUCK = 23 + 11 = 34
In FAIR - HOPE:
'F' is the 1st letter in "FAIR" → Place value of F = 6
'E' is the last letter in "HOPE" → Place value of E = 5
FAIR - HOPE = 6 + 5 = 11
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