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Option 3 : All conclusions follow

Drawing the Venn diagram,

[ alt="F3 S.Y 11.3.20 Pallavi D6" src="//storage.googleapis.com/tb-img/production/20/04/F3_S.Y_11.3.20_Pallavi_D6.png" style="width: 187px; height: 86px;">

Conclusion 1: Some certificates are papers → True (This is definitely true)

[ alt="F3 S.Y 11.3.20 Pallavi D7" src="//storage.googleapis.com/tb-img/production/20/04/F3_S.Y_11.3.20_Pallavi_D7.png" style="width: 112px; height: 74px;">

Conclusion 2: Some certificates are prizes → True (This is definitely true)

[ alt="F3 S.Y 11.3.20 Pallavi D8" src="//storage.googleapis.com/tb-img/production/20/04/F3_S.Y_11.3.20_Pallavi_D8.png" style="width: 170px; height: 35px;">

Conclusion 3: Some papers are prices → True (This is definitely true)

[ alt="F3 S.Y 11.3.20 Pallavi D9" src="//storage.googleapis.com/tb-img/production/20/04/F3_S.Y_11.3.20_Pallavi_D9.png" style="width: 146px; height: 35px;">

Hence, “all conclusions” follow.
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