JEE Advanced 2024 Physics question on Magnetism and Moving Charges

A thin stiff insulated metal wire is bent into a circular loop with its two ends extending tangentially from the same point of the loop. The wire loop has mass $m$ and radius $r$ and it is in a uniform vertical magnetic field $B_0$, as shown in the figure. Initially, it hangs vertically downwards, because of acceleration due to gravity $g$, on two conducting supports at P and Q. When a current $I$ is passed through the loop, the loop turns about the line PQ by an angle $\theta$ given by