Assertion: Galvanized iron does not rust.
Reason: Zn has more negative electrode potential than Fe.

Assertion and Reason both are correct statements and reason is the correct explanation for assertion.

One of the simplest methods of preventing corrosion is to prevent the surface of the metallic object to come in contact with atmosphere. This can be done by covering the surface with paint or by some chemicals or by other metals (Sn, Zn, etc.) that are inert or react to save the object. An electrochemical method is to provide a sacrificial electrode of another metal (like Mg, Zn, etc.) which corrodes itself but saves the object.

As In Galvanization, zinc metal gets corroded but iron does not as it has more negative electrode potential than Fe.