Either conclusion I or conclusion II follows.
Option 3, is hence the correct answer.
Common explanation:
There is a priority order of the symbols according to which the priority of the symbol is decided to reach the conclusion. Whenever there are two or more type of symbols are there between two objects whose relation is to be determine we have to use this order.
If the direction of sign is opposite between that two objects, no relation can be stated perfectly and we have to say that it does not follow.
Priority Order:
1.      > and < 
2.      ≥ and  ≤
3.           =
For conclusion I: T > Y
Combining statement I and II:
T ≥ U ≥ W = X ≥ Y
As, “ ≥” sign is having the highest priority here in all the signs, so,
T ≥ Y is the actual relation.
Hence, the conclusion does not follow
For conclusion II: T = Y
Combining statement I and II:
T ≥ U ≥ W = X ≥ Y
As, “ ≥” sign is having the highest priority here in all the signs, so,
T ≥ Y is the actual relation.
Hence, the conclusion does not follow
Now, we can see that:
Both the objects of conclusions I and II are same i.e. ‘T’ and ‘Y’.
Both the conclusions I and II are wrong.
On combining both the relations we get the actual relation i.e. T ≥ Y
So, Either conclusion I or conclusion II follows.