$$\begin{array}{|l|l|l|l|}\hline \text{} & \textbf{Recursive Algorithm } & \text{} & \textbf{Recurrence Relation} \\\hline \text{P} & \text{Binary search} & \text{IV.} & T(n) = T(n/2) + 1 \\\hline \text{Q.} & \text{Merge sort} & \text{llI.} & T(n) = 2T(n/2) + cn \\\hline\text{R.} & \text{Quick sort}& \text{I.} & T(n) = T(n-k) +T(k) +cn \\\hline \text{S.} & \text{Tower of Hanoi} & \text{lI.} & T(n) = 2T(n-1) + 1 \\\hline \end{array}$$
$\therefore P – IV, Q – III, R – I, S – II$
So, the correct answer is $(B).$