A conducting rod of negligible mass and length l = 1.2m is hinged at one end at point A while the other end is attached to a spring of constant k=50Nm−1 . The arrangement is placed in transverse uniform magnetic field B = 2T and a current I = 5A is passed through the rod. The figure shows the situation in equilibrium position when the rod makes an angle 53∘ with the vertical. Choose the correct statement(s)