Correct Answer: You have asked Varun, "Why do you feel this is important for you?"

Solution : The second option is the correct answer.

Direct speech is a form of speech or writing where the actual words spoken by a person are quoted within quotation marks and attributed to the speaker.

The steps of conversion are as follows:

• There would be no change in the reporting verb.
• There would be no change in the tense because the reported speech is in the simple present tense.
• The words of the speaker are enclosed in inverted commas.

Therefore, the correct answer is: You have asked Varun, 'Why do you feel this is important for you?'