For three events $A$, $B$ and $C$,\\
$P(\text{Exactly one of } A \text{ or } B \text{ occurs}) = P(\text{Exactly one of } B \text{ or } C \text{ occurs}) = P(\text{Exactly one of } C \text{ or } A \text{ occurs}) = \dfrac{1}{4}$ and $P(\text{All the three events occur simultaneously}) = \dfrac{1}{16}$.\\
Then the probability that at least one of the events occurs, is:\\
(1) $\dfrac{7}{32}$\\
(2) $\dfrac{7}{16}$\\
(3) $\dfrac{1}{64}$\\
(4) $\dfrac{3}{16}$