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Electromagnetic Induction question for NEET / JEE Main, with solution

Q 12-06-027NEETJEE MainMedium

A square loop of side $10$ cm and resistance $0.5\ \Omega$ is pulled out of a region of uniform field $0.5$ T at a steady $2$ m/s, with one side parallel to the field boundary. The current induced while it is leaving the field is