Statements:
All money is bank
Some bank is collection
Only collection is cheque

Conclusions:
I. No money is cheque
II. All collection being bank is a possibility

In each question below, some statements are given followed by some conclusions. You have to take the given statements to be true even if they seem to be at variance with commonly known facts. Read all the conclusions and then decide which of the given conclusions definitely follows from the given statements, disregarding commonly known facts. Give answer:

Correct Answer: Only conclusion I follows

Step-by-Step Explanation:

Let us analyze the given statements step-by-step using standard syllogism rules and Venn diagram concepts.

Given Statements:

1. All money is bank: This means the entire category of "money" lies inside "bank".

2. Some bank is collection: There is an intersection/overlapping area between "bank" and "collection".

3. Only collection is cheque: In syllogisms, a statement of the form "Only A is B" translates to "All B is A" with an exclusive restriction. Therefore, "Only collection is cheque" means All cheque is collection, and furthermore, cheque cannot belong to or interact with any other category besides collection. That is, cheque has a strict negative relationship with all other entities outside of collection (such as money and bank).

Evaluating Conclusion I:

Conclusion I: No money is cheque

Since "Only collection is cheque", "cheque" can ONLY belong to "collection". It cannot have any overlap with any other element except "collection". Hence, no part of "money" can ever be "cheque". Therefore, Conclusion I definitely follows.

Evaluating Conclusion II:

Conclusion II: All collection being bank is a possibility

If all "collection" becomes "bank", then since "cheque" is strictly inside "collection", "cheque" would also become a part of "bank". However, as established by the statement "Only collection is cheque", "cheque" cannot belong to any category other than "collection" (specifically, it cannot be "bank"). Therefore, it is impossible for all collection to be bank without violating the exclusivity of cheque. Thus, Conclusion II does not follow.

Conclusion:

Hence, only conclusion I definitely follows from the given statements.