Which of the following pairs of ‘Dynasty - Ruled region’ is correctly…

The correct answer is Option 4- Both I and II.

• The Shakas were a nomadic people who migrated from Central Asia to India in the 2nd century BCE. They ruled over a large territory in north-west and north India, including present-day Pakistan, Afghanistan, and parts of India.
• The Vakatakas were a dynasty that ruled over central and western India from the 3rd to the 6th century CE. Their territory included present-day Maharashtra, Madhya Pradesh, and Gujarat.

So both I and II are correctly matched.