Due to change in flux, eddy current is produced which opposes the motion in the metallic pipe for the bar magnet.
Eddy currents are loops of electrical current induced within conductors by a changing magnetic field in the conductor according to Faraday's law of induction. Eddy currents flow in closed loops within conductors, in planes perpendicular to the magnetic field.
Hence, R is the correct explanation and both statements are true.