Concept:The induced EMF is given by the rate of change of magnetic flux through the loop, as per Faraday's law.Explanation:The loop is reshaped from a circle to a square, keeping the wire length constant.This changes the area and thus the magnetic flux.Initial radius: r=7 cm=0.07 m.Initial area: A1=πr2=π(0.07)2=0.0154 m2.Circumference of circle = 2πr=2π×0.07 m.Perimeter of square = same as circumference, so side a=42πr=2π×0.07=0.11 m.Final area: A2=a2=(0.11)2=0.0121 m2.Change in area: ΔA=A2−A1=−0.0033 m2.Magnetic field B=0.2 T is constant and perpendicular to the plane.Change in flux: Δϕ=B⋅ΔA=0.2×(−0.0033)=−0.00066 Wb.Time taken: Δt=0.5 s.Induced EMF magnitude: ∣E∣=ΔtΔϕ=0.50.00066=0.00132 V.Convert to mV: 0.00132×1000=1.32 mV.Answer:The induced EMF is 1.32 mV, so option C is correct.