Explanation:
Since, it is given that the magnet drops and falls lengthwise towards the canter of the ring. As a result, change in magnetic flux will occur which tends to induce an electric current in the ring.
Therefore, a magnetic field is also produced by the ring itself which will actually oppose or repel the magnet. Â
Thus, we can conclude that the falling magnet be repelled by the ring due to the magnetic interaction of the magnet and the ring.