Number of bits required to address a virtual page is: $log_{2}\left ( \frac{VirtualAddressSpace}{PageSize} \right )$
Number of bits required to a address a physical page is : $log_{2}\left ( \frac{PhysicalAddressSpace}{PageSize} \right )$
Here Virtual Address Space $=$ $2^{32}B$ and the physical address space $=$ $2^{28}B$, PageSize $= 2^{11}B$
$\therefore$ Bits required for virtual page number $=$ $log_{2}\left ( \frac{2^{32}}{2^{11}} \right )=21$ $bits$
and Bits required for physical page number $=$ $log_{2}\left ( \frac{2^{28}}{2^{11}} \right )=17$ $bits$
Option B is correct.