Assertion (A) is true: The Battle of Khanua (1527) is often considered more significant than the First Battle of Panipat (1526) for Babur. While Panipat established his foothold by defeating the Delhi Sultanate, Khanua was against a formidable confederacy led by Rana Sanga, a powerful Rajput ruler. Winning against Sanga was crucial for consolidating Mughal rule and facing a much tougher military challenge than Ibrahim Lodi's disorganized army. Reason (R) is true: Rana Sanga was a highly respected and experienced warrior who led a united front of Rajput and Afghan chiefs, posing a much more severe threat to Babur's newly established power than the relatively ineffective Ibrahim Lodi. R is the correct explanation of A: The formidable challenge posed by Rana Sanga (R) is precisely why the victory at Khanua was more critical for Babur's survival and consolidation of power than the victory over the weaker Ibrahim Lodi at Panipat (A).