The correct option is C Assertion is correct but Reason is incorrect
K4[Fe(CN)6] and K3[Fe(CN)6] Both are low spin complex due to strong ligand field but due to presence of 1 unpaired electron ion in K3[Fe(CN)6], it is paramagnetic.
Crystal field splitting in ferrocyanide is less than ferricyanide ion because higher the oxidation state of metal, greater the crystal field splitting. Hence, the reason is false.