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Option 4 : Both II and III follow

The least possible Venn diagram for the given statements is as follows,

[ alt="AFCAT FT13 Radhika Jan 11 32q Revd hindi 11" src="//storage.googleapis.com/tb-img/production/19/01/AFCAT_FT13_Radhika_Jan%2011_32q_Revd_hindi%2011.PNG">

Conclusions:

I. Some money are coins → False (It is possible but not definite)

II. Some notes are coins → True (as shown in diagram)

III. No rupee is pain→ True (as all rupee are notes and no note is pain)

IV. All rupees are coins → False (as all coins are rupee)

Thus, bothconclusion II and III follow.
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