To answer the above question, the relevant sentence is: It is generally accepted that Agra was both an ancient city from the times of the Mahabharata (see above) and yet nevertheless Sultan Sikandar Lodi, the Muslim ruler of the Delhi Sultanate, founded Agra in the year 1504.
This justifies what answer for what question? Q & A:
Passage: It is generally accepted that Agra was both an ancient city from the times of the Mahabharata (see above) and yet nevertheless Sultan Sikandar Lodi, the Muslim ruler of the Delhi Sultanate, founded Agra in the year 1504. After the Sultan's death, the city passed on to his son, Sultan Ibrahim Lodi. He ruled his Sultanate from Agra until he fell fighting to Mughal Badshah Babar in the First battle of Panipat fought in 1526.

Question: Based on this passage, who established the city of agra at its present location?
Sultan Sikandar Lodi , the Muslim ruler of the Delhi Sultanate