Answer: D. Intact grana thylakoids with both PS II and PS I, when illuminated, carry out non-cyclic photophosphorylation: water is split (releasing O₂), electrons flow through the chain, NADP⁺ is reduced to NADPH, and the proton gradient drives ATP synthesis. G3P requires the Calvin cycle (stroma + CO₂), which is absent. So the fraction produces ATP, NADPH and O₂, which is option D; NCERT notes that grana lamellae carry both PS I and PS II (NCERT Class 11 Biology Chapter 11, page 140).
Why A is wrong: A — G3P (glyceraldehyde-3-phosphate) is a product of the Calvin cycle, which requires stroma enzymes and CO₂. Neither is present in the isolated grana fraction.
Why B is wrong: B — O₂ is released from water splitting at PS II, but the electron transport chain also generates ATP (via chemiosmosis) and NADPH (via NADP⁺ reductase). O₂ alone does not account for the full output.
Why C is wrong: C — ATP alone would be the product of cyclic photophosphorylation only (PS I pathway). Grana thylakoids contain both PS II and PS I, so non-cyclic flow also occurs, producing NADPH alongside ATP.