Flux Φ linked with the loop
=2pmx3πa2×μ04π
Induced emf
ε=−6πapmvx4×μ04π
Current in the ring
=3μ0a2vpm2x4R
This current will set up a field at the site of the magnet gives by
B′=μ02πiπa2x3=3μ20a4vpm4x7R
This will give rise to a force in the dipole
|F|=∣∣∣pmδB′δx∣∣∣=27μ20a4vp2m4x8R
By Lenz'z law this forces opposes the motion of the dipole in all cases.