
To analyze the given problem, we use Faraday's Law of Induction and Lenz's Law. The setup involves a circular coil placed near a current-carrying conductor, both lying on the plane of the paper. The induced current in the loop is clockwise.
The current in the wire is time-dependent and downward.
Final Answer: (A): time-dependent and downward
In this scenario, the loop is positioned to the right of the current-carrying wire, even though it might seem as if it's on the left side. This is because, when you move in the direction of the current, the loop is situated to the right.
Now, as the current diminishes, the induced current within the loop is in a clockwise direction (S), as illustrated in the diagram.
Correct Option: (A): time-dependent and downward

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The electromagnetic induction is mathematically represented as:-
e=N × d∅.dt
Where