Verified Answer :

The answer is not infinity. 
Consider FBDs of each mass with the direction of motion of m1 as positive 

m1g-T=m1a 

T-m2g=m2a 

assuming mass less cord and mass less, friction less pulley 
the accelerations are equal 
a=(T-m2g)/m2 

m1
g-T=m1(T-m2g)/m2 
do some algebra 
m1g-T=m1T/m2-m1g 
2
m1g=T(1+m1/m2) 
2m1m2g=T(m2+m1) 
2m1m2g/(m2+m1)=T 
now take the limit of T as m1->infinity 
T=2
m2g 

this is intuitively correct since the maximum acceleration of m1 is -g, the cord transfers the acceleration to m2, which is being acted on by gravity downward and an upward acceleration of g. Therefore the maximum acceleration of m1 is 2
g upward. 

The value that the magnitude of the tension approach is ; \(T=2*m_{2} *g\)

plagiarism

Assuming  FBDs of masses m₁ and m₂ with the direction of motion of m₁ been positive

Resolving using the relation below

=   \(m_{1} *g-T= m_{1} *g\)

Given that sum of forces on the rope =  

therefore as m₁ → ∞

The magnitude of the tension approach will be :

\(T=2*m_{2} *g\).

Hence we can conclude that The value that the magnitude of the tension approaches is ; \(T=2*m_{2} *g\)

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