Three statements are followed by three conclusions numbered I, II and III. You have to consider these statements to be true, even if they seem at variance from commonly known facts. Decide which of the given conclusions logically follow(s) from the given statements.
Statements:
1. All papers are stationery.
2. Some stationery are books.
3. No book is a pen.
Conclusions:
I. Some pens are books.
II. No paper is a pen.
III. Some stationery are papers.

​Statements:
1. All papers are stationery.
2. Some stationery are books.
3. No book is a pen.

​Conclusions:

I. Some pens are books. (False, no book is a pen).
II. No paper is a pen. (False, there is no direct or indirect relation between paper and pen).
III. Some stationery are papers. (True, all papers are stationery, so that means some stationery are papers).

So, ​Only conclusions III follows.

Thus, correct option is (d).