Step 1: Identify common words and their corresponding numeric codes across the statements.
Comparing Statement (I) and Statement (II):
(I) 816 $\rightarrow$ Rose are Red
(II) 2364 $\rightarrow$ I Like Red Colour
The common word in both statements is "Red".
The common digit in 816 and 2364 is 6.
Therefore, the code for Red is 6.
Comparing Statement (I) and Statement (III):
(I) 816 $\rightarrow$ Rose are Red
(III) 517 $\rightarrow$ They are Good
The common word in both statements is "are".
The common digit in 816 and 517 is 1.
Therefore, the code for are is 1.
Step 2: Determine the code for "Rose" from Statement (I).
From Statement (I): 816 $\rightarrow$ Rose are Red
We have already determined that "Red" = 6 and "are" = 1.
The remaining word in Statement (I) is "Rose" and the remaining digit is 8.
Therefore, the code for Rose is 8.
Step 3: State the numeric code for "Red" and "Rose".
Based on our findings:
Code for Red = 6
Code for Rose = 8
The numeric code for "red and rose" will be 6, 8.
Step 4: Match the result with the given options.
The calculated code (6, 8) matches Option B.
The final answer is $\boxed{\text{6, 8}}$.