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Option 3 : Only conclusions I and IV follow.

Drawing the Venn diagram,

[ alt="F1 S.Y Madhu 20.01.20 D13" src="//storage.googleapis.com/tb-img/production/20/02/F1_S.Y_Madhu_20.01.20_D13.png" style="width: 231px; height: 106px;">

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

Conclusion 2: No stationery is paper → False(This is definitely false)
Conclusion 3: No book is stationery → False (This is definitely false)

Conclusion 4: Some books are papers → True (This is definitely true)

Hence, “only conclusions 1 and 4” follow.

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