The given family of curves is:
\[
y = ax + \frac{1}{a}
\]
This can be written as:
\[
a^2 y = a^3 x + 1 \Rightarrow a^2 y - a^3 x = 1
\]
Differentiating both sides repeatedly will lead to elimination of the constant \(a\). Since we need to eliminate one arbitrary constant, the order is \(m = 1\).
Because we ultimately eliminate the constant by differentiating once, and since the highest power of the derivative is 1, the degree is \(r = 2\) (after eliminating square root terms).
Now using the differential equation:
\[
\frac{dy}{dx} = \frac{y}{2x}
\]
This is a separable equation:
\[
\frac{dy}{y} = \frac{dx}{2x}
\Rightarrow \ln y = \frac{1}{2} \ln x + \ln C
\Rightarrow \ln y = \ln (C x^{1/2})
\Rightarrow y = C \sqrt{x}
\]
Now use the initial condition:
\[
y(1) = \sqrt{r + m} = \sqrt{2 + 1} = \sqrt{3}
\Rightarrow \sqrt{3} = C \Rightarrow C = \sqrt{3}
\]
Therefore,
\[
y = \sqrt{3} \sqrt{x} \Rightarrow y^2 = 3x
\]