Step 1: Use torque formula for a magnetic dipole.
When a magnetic dipole of magnetic moment \(M\) is placed in a magnetic field \(B\) at an angle \(\theta\), the torque acting on it is given by:
\[
\tau = MB\sin\theta
\]
Here,
\[
\tau = 0.024\,\text{Nm}
\]
\[
B = 400 \times 10^{-4}\,\text{T}
\]
\[
\theta = 45^\circ
\]
Step 2: Simplify the magnetic field.
\[
B = 400 \times 10^{-4}
\]
\[
B = 4 \times 10^{-2}\,\text{T}
\]
Step 3: Substitute values in the torque formula.
\[
0.024 = M \times 4 \times 10^{-2} \times \sin 45^\circ
\]
Since,
\[
\sin 45^\circ = \frac{1}{\sqrt{2}}
\]
Therefore,
\[
0.024 = M \times 4 \times 10^{-2} \times \frac{1}{\sqrt{2}}
\]
Step 4: Find the magnetic moment of the bar magnet.
\[
M = \frac{0.024 \sqrt{2}}{4 \times 10^{-2}}
\]
\[
M = \frac{0.024 \sqrt{2}}{0.04}
\]
\[
M = 0.6\sqrt{2}\,\text{A m}^2
\]
Step 5: Use magnetic moment formula for solenoid.
The magnetic moment of a current carrying solenoid is given by:
\[
M = NIA
\]
where \(N\) is number of turns, \(I\) is current, and \(A\) is cross-sectional area.
Given,
\[
N = 500
\]
\[
A = 10^{-4}\,\text{m}^2
\]
Step 6: Substitute the magnetic moment value.
\[
0.6\sqrt{2} = 500 \times I \times 10^{-4}
\]
\[
0.6\sqrt{2} = 5 \times 10^{-2} I
\]
Step 7: Find the current.
\[
I = \frac{0.6\sqrt{2}}{5 \times 10^{-2}}
\]
\[
I = \frac{0.6\sqrt{2}}{0.05}
\]
\[
I = 12\sqrt{2}\,\text{A}
\]
\[
\boxed{12\sqrt{2}\,\text{A}}
\]