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This is the solution that was given:

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I'm extremely confused how the solution is getting a magnetic field in the +y direction. I do the right hand rule and I'm getting a B into the board perpendicular to current. Any help is appreciated.

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closed as off-topic by John Rennie, Jon Custer, Yashas, ZeroTheHero, ahemmetter Mar 22 at 9:04

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The torque due to weight of the loop is into the plane. So the torque due to the magnetic field on loop at equilibrium should be out of the plane.
Now with the help of right hand rule, you can check that for the current orientation of the loop current( and hence its magnetic moment), a magnetic field in the +y direction is required.
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And anyhow one could always easily comment on the direction of magnetic field by the fact that the dipole will always try to align itself in the direction of magnetic field to reach it most stable position. By this you could clearly see that to lift the ring you must have a magnetic field in the magnetic +y direction as it would make the dipole try to allign its moment in direction of field.

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