Induction of a conducting loop with changing area in a magnetic field?

Question

An elastic conducting material is stretched into a circular loop of 11.0 cm radius. It is placed with its plane perpendicular to a uniform 0.700 T magnetic field. When released, the radius of the loop starts to shrink at an instantaneous rate of 76.0 cm/s. What emf is induced in the loop at that instant?

Answer 1

Use faraday's law http://hyperphysics.phy-astr.gsu.edu/hbase/electric/maxeq2.html#c3
The time rate of the magnetic flux = the rate of change of the area enclosed by the loop