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Option 1 : Only II

Consider the following least possible Venn diagram,

[ alt="14 sep 2017 S2 12" src="//storage.googleapis.com/tb-img/production/18/07/14_sep_2017_S2_12.PNG" style="height:183px; width:313px">

Conclusions:

I. No pencil is red → False (It is not possible as all pencils are red).

II. Some pencils are pens → True (It is definitely true as all pen are pencils).

III. No red is blue → False (It is possible but not definite).

Hence, only II follows.
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