Given that,
- $y=f(x) \longrightarrow (1)$
- $f(x)= \frac{(1-x)}{(1+x)} \longrightarrow (2)$
Now, we can check all of the options.
$\text{A}. f(2x) = f(x)-1$
Take left hand side term.
$f(2x) = \frac{(1-2x)}{(1+2x)}$
We can do rationalization.
$\Rightarrow f(2x) = \frac{(1-2x)}{(1+2x)} \times \frac{(1-2x)}{(1-2x)}$
$\Rightarrow f(2x) = \frac{(1-2x)^{2}}{1-4x^{2}} \longrightarrow (3)$
Take right hand side term.
$f(x)-1 = \frac{1-x}{1+x}-1$
$\Rightarrow f(x)-1 = \frac{1-x-1-x}{1+x} = \frac{-2x}{1+x} \longrightarrow (4)$
$\boxed{\text{LHS} \neq \text{RHS}}$
So, option $\text{A}$ is not correct
$\text{B}. x=f(2y)-1$
$\Rightarrow x= f(2f(x))-1$
$\Rightarrow x= f\left[2(\frac{1-x}{1+x})\right]-1$
$\Rightarrow x= f\left(\frac{2-2x}{1+x}\right)-1$
$\Rightarrow x= \frac{1-(\frac{2-2x}{1+x})}{1+(\frac{2-2x}{1+x})}-1$
$\Rightarrow x= \frac{\frac{1+x-2+2x}{1+x}}{\frac{1+x+2-2x}{1+x}}-1$
$\Rightarrow x= \frac{(3x-1)}{(1+x)} \times \frac{(1+x)}{(3-x)}$
$\Rightarrow x= \frac{3x-1-3+x}{3-x}$
$\Rightarrow \boxed{x= \frac{4x-4}{3-x}(\text{False})}$
So, option $\text{B}$ is not correct.
- $f(\frac{1}{x}) = f(x)$
$\Rightarrow \frac{1-\frac{1}{x}}{1+\frac{1}{x}} = \frac{1-x}{1+x}$
$\Rightarrow \frac{\frac{x-1}{x}}{\frac{x+1}{x}}= \frac{1-x}{1+x}$
$\Rightarrow \boxed{\frac{x-1}{x+1} \neq \frac{1-x}{1+x} \text{(False)}}$
So, option $\text{C}$ is not correct.
- $x=f(y)$
$\Rightarrow x= f(f(x))$
$\Rightarrow x= f(\frac{1-x}{1+x})$
$\Rightarrow x= \frac{1-(\frac{1-x}{1+x})}{1+(\frac{1-x}{1+x})}$
$\Rightarrow x=\dfrac{\frac{1+x-1+x}{1+x}}{\frac{1+x+1-x}{1+x}}$
$\Rightarrow x=\frac{2x}{2}$
$\Rightarrow \boxed{x=x \text{(True)}}$
So, option $\text{D}$ is not correct.
Correct Answer $: \text{D}$
Short Method: We can put the value of $x=1,2,3, \cdots $ and verify each of the options.
$\text{A}) f(2x) = f(x)-1$
$x=1: f(2) = f(1)-1$
$\Rightarrow \frac{1-2}{1+2} = \frac{1-1}{1+!}-1$
$\Rightarrow \frac{-1}{3} = \frac{0}{2}-1$
$\Rightarrow \boxed{\frac{-1}{3} = -1\text{(False)}}$
$\text{B}) x=f(2y)-1$
$x=1,y=1: 1=f(2)-1$
$\Rightarrow 1=\frac{-1}{3}-1$
$\Rightarrow 1=\frac{-1-4}{3}$
$\Rightarrow 1=\boxed{\frac{-5}{4}\text{(False)}}$
$\text{C}) f(\frac{1}{x}) = f(x)$
$x=1: \; f(\frac{1}{1}) = f(1)$
$\Rightarrow \boxed{f(1) = f(1) \; \text{(True)}}$
$x=2: \; f(\frac{1}{2}) = f(2)$
$\Rightarrow \frac{1}{2} = \frac{1-2}{1+2}$
$\Rightarrow \frac{1-\frac{1}{2}}{1+\frac{1}{2}} = \frac{1-2}{1+2}$
$\Rightarrow \frac{\frac{2-1}{2}}{\frac{2+1}{2}} = \frac{-1}{3}$
$\Rightarrow \boxed{\frac{1}{3} = \frac{-1}{3}\text{(False)}}$