Step 1: Understanding the Concept
The magnetic moment of a current loop is \(M=IA\). The same wire is reshaped, so its length \(L\) is the same and the current is the same. Only the area changes.
Step 2: Circle
\[ L=2\pi r\Rightarrow r=\frac{L}{2\pi},\qquad A_c=\pi r^2=\frac{L^2}{4\pi} \]
Step 3: Square
\[ L=4s\Rightarrow s=\frac L4,\qquad A_s=\frac{L^2}{16} \]
Step 4: Ratio
\[ \frac{M}{M_1}=\frac{A_c}{A_s}=\frac{L^2/4\pi}{L^2/16}=\frac{4}{\pi} \]
This is option (B). The circle encloses the larger area for a given perimeter, so the ratio is greater than 1.
Final Answer:
For the same wire length the circle has area L squared over 4 pi and the square L squared over 16, giving 4/pi, option (B).
\[ \boxed{\frac{4}{\pi}} \]