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Option 5 : Only III and IV follow

The Venn diagram for the given statements is as follows,

[ alt="5b582363175cbd521dddc99d.1" src="//storage.googleapis.com/tb-img/production/18/12/5b582363175cbd521dddc99d.1.PNG" style="width: 291px; height: 172px;">

Based on that we will check conclusions:

I. Some Paper are White → It’s possible but not definite, hence false.

II. All Green are Red → It’s possible but not definite, hence false.

III. All Red being White is a possibility → Possibility is true as shown below.

[ alt="5b582363175cbd521dddc99d.2" src="//storage.googleapis.com/tb-img/production/18/12/5b582363175cbd521dddc99d.2.PNG" style="width: 295px; height: 175px;">

IV. Some Paper being Green is a possibility → Possibility is true as shown below.

[ alt="5b582363175cbd521dddc99d.3" src="//storage.googleapis.com/tb-img/production/18/12/5b582363175cbd521dddc99d.3.PNG" style="width: 298px; height: 174px;">

Hence only conclusion III and IV follow.
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