The first call to the function ‘func1(str1, str2);’ is call by value.
Hence, any change in the formal parameters are NOT reflected in actual parameters.
Hence, str1 points at “hi” and str2 points at “bye”.
The second call to the function ‘func2(&str1, &str2);’ is call by reference.
Hence, any change in formal parameters are reflected in actual parameters.
Hence, str1 now points at “bye” and str2 points at “hi”.
Hence answer is “hi bye bye hi”.