Assertion :Substances like Fe3O4 and MgFe2O4 lose ferrimagnetism on heating and become paramagnetic. Reason: Magnetic moments of the domains in these substances are aligned in parallel and antiparallel directions in unequal numbers.
At room temperature, Fe3O4 is ferrimagnetic but as room temperature is raised randomization of spin takes place and the order and alignment between dipoles gets destroyed. So, it looses its intrinsic magnetic moment and after that shows induced magnetism.
In Fe3O4, at room temperature, the domains adjoining in parallel and antiparallel directions are unequal in numbers. So, as to give a small magnetic moment to it.