What will be the output of the following Python code?x = ['xy', 'za']for i in x:    i.swapcase()print(x)

The output of the code will be ['xy', 'za'].

Here's the step by step explanation:

1. The list x is defined with two string elements: 'xy' and 'za'.
2. A for loop is initiated to iterate over each element in the list x.
3. Inside the loop, the swapcase() method is called on each element. This method returns a string where all the upper case letters are lower case and vice versa. However, this does not affect the original list because strings in Python are immutable and the result is not reassigned back to the list.
4. After the loop has finished executing, the print(x) statement is run, which prints the original list x as it was defined.

Therefore, the list remains unchanged and the output will be ['xy', 'za'].