Correct option is B

Conclusion I: All mangoes are grapes. (Correct)
Since, All mangoes are apples and all apples are grapes.
So, all mangoes are grapes (Valid Conclusion)
Conclusion II: All apples are oranges. (Incorrect)
Since, All oranges are mangoes, but it does not mean all apples must be oranges.
Therefore, This is incorrect.
Conclusion III: All oranges are grapes. (Correct)
Since, All oranges are mangoes, all mangoes are apples, and all apples are grapes.
This means all oranges must be grapes. (Valid Conclusion))
Conclusion IV: All grapes are mangoes. (Incorrect)
Since, All apples are grapes, but we don’t know that all grapes must be mangoes.
Therefore, This is incorrect.
Thus, the correct option is (b) Only Conclusions I and III follow.