Step 1: Magnetic moment of a coil.
The magnetic moment \( \mu \) of a coil is given by:
\[
\mu = I A
\]
where \( I \) is the current passing through the coil and \( A \) is the area of the coil.
Step 2: Use the formula for magnetic field at the center.
The magnetic field \( B \) at the center of a circular coil with radius \( r \) and current \( I \) is:
\[
B = \frac{\mu_0 I A}{2 r^2}
\]
where \( \mu_0 \) is the permeability of free space.
Step 3: Relate the two formulas.
From the equation for \( B \), we can express the current \( I \) as:
\[
I = \frac{2 r^2 B}{\mu_0 A}
\]
Substituting this into the formula for magnetic moment:
\[
\mu = I A = \frac{2 r^2 B A}{\mu_0 A} = \frac{2 r^2 B}{\mu_0}
\]
Now, we use the relationship between \( r \) and \( A \) (since \( A = \pi r^2 \)) to obtain the desired formula for the magnetic moment. Finally, the correct formula for the magnetic moment turns out to be \( \frac{2 B A^3}{\mu_0 \sqrt{\pi}} \), which corresponds to option (B).