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Option 3 : Both II and IV follow

Consider the following least possible Venn diagram,

[ alt="SSC Steno 18" src="//storage.googleapis.com/tb-img/production/18/07/SSC%20Steno_18.PNG">

Conclusions:

I. Some Red are Black → False (It is possible but not definite).

II. Some Black being Toy is a possibility → True (Possibility is true).

III. All Toy are Pink → False (It can’t be possible as Some Toy are Red and No Red is Pink).

IV. Some Pink being Toy is a possibility → True (Possibility is true).

Hence, both II and IV conclusions follow
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