A coil in the shape of a square having 200 turns, with an area of each turn $2.5×10^{-3} m^2$ and a total resistance of 200 Ω, is placed in a uniform magnetic field of 0.5 T, such that the plane of the coil is perpendicular to the magnetic field. The loop is pulled out of the field slowly and uniformly in 1.0 s as shown in the figure. The magnitude of induced current in the coil is:

1.25 mA

The correct answer is Option (1) → 1.25 mA