The Attempt at a Solution
The magnetic field lines due to the infinite wire will be clockwise .When P is the midpoint of the magnet , Magnetic field at the South Pole will have a component upwards and a component towards right .This means S will experience a force downwards and towards left .
Similarly N will experience a force downwards and towards right .
The net force on the magnet will be downwards . But since equal forces act on both S and N downwards , there will be zero torque on the magnet .
I think both 1) and 3) should be right but the given answer is option 3) .
What is the mistake in my reasoning ?