Step 1: Concept Spin-only magnetic moment ($\mu$) is calculated using the formula $\mu = \sqrt{n(n+2)}$ BM, where $n$ is the number of unpaired electrons. Higher $n$ results in a higher magnetic moment.
Step 2: Meaning We must determine the number of unpaired electrons for each ion: $Sc^{3+}$ ($d^0, n=0$), $Ti^{3+}$ ($d^1, n=1$), $Ti^{2+}$ ($d^2, n=2$), $Co^{2+}$ ($d^7, n=3$), and $Fe^{2+}$ ($d^6, n=4$).
Step 3: Analysis Ranking based on $n$: $Sc^{3+}$ (0) $<$ $Ti^{3+}$ (1) $<$ $Ti^{2+}$ (2) $<$ $Co^{2+}$ (3) $<$ $Fe^{2+}$ (4).
Step 4: Conclusion The increasing order of magnetic moment is E $<$ B $<$ C $<$ A $<$ D.
Final Answer: (B)