The initial magnetic flux is given as,
ϕi=BAcosθ
ϕi=0.1×10−2cos45∘
ϕi=0.1×10−2√2
The final magnetic flux is given as,
ϕf=0
The magnitude of induced emf is given as,
e=ΔϕΔt
e=10−3√2×0.7
e=1.0mV
The magnitude of the current is given as,
I=eR
I=1.00.5
I=2.0mA