Most Christians believe that the Lake of Fire is literal, causing ultimate and permanent destruction by physical fire of Satan and the wicked.
If we determine this to be true, our study is nearly completed.
There are only four texts mentioning "lake of fire" and are all in Revelation 19-21.
And the beast was taken, and with him the false prophet that wrought miracles before him, with which he deceived them that had received the mark of the beast, and them that worshipped his image. These both were cast alive into a lake of fire burning with brimstone. Revelation 19:20
This lake of fire is at the beginning of the 1000 years. Into it are cast the beast and the false prophet. The remaining "unsaved" are then killed by the "sword" (figurative).
And the remnant were slain with the sword of him that sat upon the horse, which sword proceeded out of his mouth: and all the fowls were filled with their flesh. Revelation 19:21
After the 1000 years, in which Satan was bound...
And the devil that deceived them was cast into the lake of fire and brimstone, where the beast and the false prophet are, and shall be tormented day and night for ever and ever. Revelation 20:10
This means that the beast and the false prophet (if literal) have now been tormented in the lake of fire for 1000 years.
And death and hell were cast into the lake of fire. This is the second death. And whosoever was not found written in the book of life was cast into the lake of fire. Revelation 20:14,15
But the fearful, and unbelieving, and the abominable, and murderers, and whoremongers, and sorcerers, and idolaters, and all liars, shall have their part in the lake which burneth with fire and brimstone: which is the second death. Revelation 21:8
Based on our rules (previous chapter) we must initially assume (Rule 1) that these texts are literal. Now let's start to compare with the exceptions and see if any apply.
Rule 2 we are NOT at liberty to arbitrarily decide that it is figurative.
Satan and wicked people are literal beings, so are capable of literally being thrown into a literal lake of fire. At this point, we must still assume that the lake of fire is literal.
Rule 7 now starts to apply. The immediate context is the Book of Revelation which is largely figurative. It is also prophetic, which uses symbols (figurative speech) not literal language, even though this "context" could dictate the conclusion that the lake is also a symbol, there may not be sufficient cause for you to decide that the lake is figurative (even though most of the rest of Revelation is figurative).
A literal interpretation of the lake of fire requires killing by Yahweh, which is contrary to his law (thou shalt not kill) and contrary to His nature (as harmless as a lamb). These invoke Rule 5 (contradiction to the harmony of scripture) and Rule 8 (actions that are wrong). This still isn't enough to determine that the lake is symbolic because many Christians believe that Yahweh has the ability to break His own law and also believe that this is His "strange act" of Isaiah 28:21 (in other words, acting against His own character), which is His prerogative. I don't want to discuss these points at this time, so we'll carry on.
Rules 11 and 12 apply more forcefully and convincingly. Almost all Christians will agree (without discussion here) that the beast and the false prophet are symbolic. This conclusion would require the intermixing of symbols (beast and false prophet) with literal (lake of fire) which would invoke Rule 11. If the lake is literal, the symbolic (beast) would be interacting with the literal (lake), against Rule 12. The symbols do represent wicked people bound together in criminal conspiracy. These people could be literally thrown into a literal lake, but they are not. They are (initially) killed with a "sword" and only after the 1000 years are they also cast into the lake.
Furthermore, it is impossible (Rule 4) to cast a figure of speech (a symbol) into a literal lake (fire or otherwise). One could write the figure of speech on a piece of paper and cast the paper into the lake. But the figure of speech cannot be cast into a literal lake.
It is also impossible for a symbol to literally live (These both were cast alive into a lake of fire... Revelation 19:20). A symbol could only "live" figuratively, not literally and could only be figuratively cast into a figurative lake.
Many Christians believe that "and shall be tormented day and night for ever and ever. Revelation 20:10" is literal ie, for eternity. Many other Christians say no, that is a figure of speech and it only means until they're "burned up". If this portion of this verse is figurative, the rest must also be figurative. Besides, how long does it take to burn up a "figure of speech"? And how do you (literally) burn a "figure of speech"? These two figures of speech (beast and false prophet) have now been "burning" for 1000 years.
"Death and hell" will also be cast into the lake of fire. This cannot be literal, but is also symbolic imagery. How will death and hell be picked up and thrown into a literal lake? How big is "death and hell"? Where are they to be found so they can be cast literally, into a literal lake? No, these are figurative symbols, not literal "things".
But, let's assume that this still isn't enough evidence to support a conclusion that the lake of fire is figurative. There is more...