Given: H > V > T; I < E < H; T = S < B On Combining: I < E < H > V > T = S < B Conclusions: 1. I > V → False (as I < E < H > V; thus, a clear relation between I and V cannot be established) 2. H < S → False (as H > V > T = S; therefor H > S) 3. T < B → True (as T = S < B) 4. E > S → False (as E < H > V > T = S; thus, a clear relation between E and S cannot be established) Hence, only conclusion III is true.