Azeotropic mixtures are formed only by non-ideal solutions and they may have boiling points either greater than both the components or lesser than both the components.
The composition of the vapour phase is same as that of the liquid phase of an azeotropic mixture.
Both Assertion and Reason are correct but Reason is not the correct explanation for Assertion.
Non-ideal solutions with positive deviation i.e having more vapour pressure than expected, boil at lower temperature while those with negative deviation boil at higher temperature than those of the components.