Step 1: Concept
There is generally an inverse relationship between a drug's melting point and its aqueous solubility.
Step 2: Meaning
High melting points indicate strong intermolecular forces, often leading to lower solubility.
Step 3: Analysis
Theophylline ($270$-$274^{\circ}C$) has the highest MP and lowest solubility (4.5). Caffeine ($238^{\circ}C$) follows with solubility 13.3. 7-Ethyl theophylline ($156$-$157^{\circ}C$) matches 17.6. 7-Propyl theophylline ($99$-$100^{\circ}C$) has the lowest MP and highest solubility (104).
Step 4: Conclusion
The correct matches are: A-III, B-II, C-IV, D-I.
Final Answer: (D)