The correct option is B Is
The auxiliary verb 'be' has many forms. Depending on the person (first person, second, third) and the number (singular or plural), the form is used.
In the given sentence, "father" is the subject. 'Father' is in the third person singular point of view. ("Rajan and Rohan's" is not the subject as it indicates possession, due to the apostrophes. It does not perform the action itself.)
Option C: 'Is' is a form of 'be' used in the third person singular narrative. It means: to exist or live. It is relevant to the given sentence, which says that the father exists as a businessman. Hence C is correct.
Option A: 'Are' is a form of the auxiliary verb 'be'. But it is used when the number of the subject is plural. Here it is singular, hence A is incorrect.
(It might be confusing, considering the nouns Rajan and Rohan as the plural subject. But they do not function as the subject here.)
Options B and D: The auxiliary 'has' means 'to possess or own'. For example, 'He has a blue car.' 'Have' is a form of 'has'; the former is used in the first person (singular as well as plural) and the third person plural. The latter (has) is used for the third person singular narrative.
These verbs do not agree with the sentence, as it does not focus on possession of 'a businessman'. The sentence focuses on the existence of the father as a businessman. Hence B and D are incorrect.