Statements:
Only a few Violin is Piano
No Piano is Guitar
Only a few Guitar is Mandolin.

Some Mandolin are Piano is a possibility: No Piano is Guitar. Only a few Guitar is Mandolin means some Guitar is Mandolin and some Guitar is not Mandolin. Thus, the Mandolin which is not Guitar can be Piano. So, conclusion I is true.
All Violins are Guitar: No Piano is Guitar. Only a few Violin is Piano means some Violin is Piano and some Violin is not Piano. Thus, the Violin which is Piano cannot be Guitar. So, conclusion II is false.
Hence, only conclusion I follows.