Step 1: Use y as a function of t:
Let $y=\cos(pt)$ so $\dfrac{d^2y}{dt^2}=-p^2y$.
Step 2: Convert d2y/dt2 into x-derivatives:
With $x=\sin t$: $\dfrac{dy}{dt}=\cos t\,y'$ and $\dfrac{d^2y}{dt^2}=\cos^2t\,y''-\sin t\,y'=(1-x^2)y''-xy'$.
Step 3: Equate:
$(1-x^2)y''-xy'=-p^2y$. Option B.
Final Answer:
Since d2y/dt2 = -p^2 y, the expression equals -p^2 y.
\[ \boxed{\text{(B) }-p^2y} \]