Step 1: Magnetic Field at the Centre of a Circular Loop
For a circular loop of radius \( R \) carrying current \( I \), the magnetic field at its centre is given by:
\[
B_{\text{circle}} = \frac{\mu_0 I}{2R}
\]
Since the length of the wire remains constant,
\[
2\pi R = L
\]
which gives
\[
R = \frac{L}{2\pi}
\]
Substituting this in \( B_{\text{circle}} \):
\[
B_{\text{circle}} = \frac{\mu_0 I}{2 \times \frac{L}{2\pi}} = \frac{\mu_0 I \pi}{L}
\]
Step 2: Magnetic Field at the Centre of a Square Loop
For a square loop, each side is of length \( \frac{L}{4} \), and the magnetic field at the centre of a square loop is given by:
\[
B_{\text{square}} = \frac{2\sqrt{2} \mu_0 I}{\pi a}
\]
where \( a \) is the side length of the square:
\[
a = \frac{L}{4}
\]
Substituting this in \( B_{\text{square}} \):
\[
B_{\text{square}} = \frac{2\sqrt{2} \mu_0 I}{\pi \times \frac{L}{4}} = \frac{8\sqrt{2} \mu_0 I}{\pi L}
\]
Step 3: Finding the Ratio
The ratio of the magnetic fields is:
\[
\frac{B_{\text{circle}}}{B_{\text{square}}} = \frac{\frac{\mu_0 I \pi}{L}}{\frac{8\sqrt{2} \mu_0 I}{\pi L}}
\]
Simplifying,
\[
\frac{B_{\text{circle}}}{B_{\text{square}}} = \frac{\pi^2}{8\sqrt{2}}
\]
Thus, the correct answer is \( \frac{\pi^2}{8\sqrt{2}} \).