The correct option is A I>II>III>IV
The positive charge that develops on benzylic C in this SN1 reaction is most effectively delocalised by (OMe) group (+R and −I). The (p−NO2) group withdraws ¯e density from the ring by −I and −R. (p−Cl) group withdraws ¯e' s from the ring by −I only.
More EDG (e.g. −OMe) stabilised positive charge on the benzyl C atom, whereas EWG (e.g., −NO2, -CI) destabilises the positive charge. Hence, the reactivity order is: I>II>III>IV.