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Option 4 : Only I and III follow

Consider the following least possible Venn diagram,

[ alt="RRB OA MFT8 RRBOA 18 Aug 2018 40Q images Q22" src="//storage.googleapis.com/tb-img/production/18/09/RRB_OA_MFT8_RRBOA_18_Aug_2018_40Q_images_Q22.PNG" style="height:76px; width:231px">

Conclusions:

I. All greens being blues is a possibility → True (All Green can be part of the remaining Blue, which is not Yellow. Possibility is true as shown below)

[ alt="RRB OA MFT8 RRBOA 18 Aug 2018 40Q images Q22a" src="//storage.googleapis.com/tb-img/production/18/09/RRB_OA_MFT8_RRBOA_18_Aug_2018_40Q_images_Q22a.PNG">

II. Some red are blues → False (It is possible but not definite)

III. Some reds being yellow is a possibility → True (Some part of Red which is not Green can be part of Yellow. Possibility is true as shown below)

[ alt="RRB OA MFT8 RRBOA 18 Aug 2018 40Q images Q22b" src="//storage.googleapis.com/tb-img/production/18/09/RRB_OA_MFT8_RRBOA_18_Aug_2018_40Q_images_Q22b.PNG" style="height:117px; width:188px">

Hence, Both conclusion I and III follow.
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