Mark O. answered 05/27/16
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Let's first just worry about letters. Let's look at all combinations that start with A:
ABC
ABD
ACD
So, that is 3 possibilities. But, I can equally do this for letter combinations that begin with B, C and D respectively. So, in just considering letters, I get 3 X 4 = 12 combinations.
How about colors? Let's just consider one of the letter permutations above. Let's consider say ABC. For this particular combination, if R = Red, Y = Yellow and G = Green, we can assign colors to ABC in the following possible ways: RYG, RGY, YRG, YGR, GYR, and GRY or 6 combinations. So, this is 6 possibilities for just ABC. But, we have 12 letter combinations. So, I think every possible permutation is (12 letter combinations) X (6 color permutations) = 72
This is what I get. Combinatorics is not my strongest suit though. :-)