The correct answer is: Only conclusion II follows.
The first statement is “All pens are roads.” This means that every pen is a road. The second statement is “All roads are houses.” This means that every road is a house.
The first conclusion is “All houses are pens.” This means that every house is a pen. However, this conclusion does not follow from the premises. The premises only say that all pens are roads and all roads are houses. They do not say that all roads are pens. Therefore, we cannot conclude that all houses are pens.
The second conclusion is “Some houses are pens.” This means that there exists at least one house that is a pen. This conclusion does follow from the premises. The premises say that all pens are roads and all roads are houses. Therefore, there must exist at least one house that is a pen.
Therefore, the only conclusion that follows from the premises is “Some houses are pens.”