Induced current in a circular loop

[cnh1995]

If there is no solid core you can move the voltmeter above the coil and get a voltage that's somewhere in between +4.17 and -0.83 or -4.17 and + 0.83 depending on which way around you connected the meter. At some point it will read 0 but that point is probably not exactly above the coil because the setup is not symmetric since the two resistances are different.

Well I have studied the circuit using surface charge feedback mechanism too..My calculations for voltmeter reading match for both the cases (left and right side) with those done using your suggested method.. Exactly above the coil, the voltmeter will read 1.67 V, not 0 ,as you correctly predicted using the symmetry argument..Thanks again for your help..