CBSE Class 12-science Answered
The direction of induced current will be found by using Lenz's law.
You are correct to find that the magnetic field lines are out of plane of paper and towards us.
Also the strength of magnetic field due to this conductor decreases as we go away from it.
So as the the rectangular coil is moved away from it, less and less magnetic field lines will now come out the plane of the coil, since the magnetic field strength decreases as we move away.
So magnetic flux decreases, now according to Lenz's law the induced emf is such that to oppose the change in magnetic flux.
Therefore, the induced current will try to increase the magnetic field lines.
Only an anticlockwise current in the loop can generate magnetic field lines, that'll come out of the plane of paper and towards us (use right hand rule - curl the right hand fingers around any side of the rectangular coil so as they come out of the plane of coil and towards us), as required by Lenz's law.
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