Step 1: Plan:
Use the fact that the rotational share of the energy is $\frac27$ of the total.
Step 2: Steps:
For a solid sphere, translational KE : rotational KE $= 5:2$. Translational part $= \frac57K = \frac57\times7\times10^{-3} = 5\times10^{-3}$ J.
$\frac12mv^2 = 5\times10^{-3}$, so $v^2 = 10^{-2}$, and $v = 0.1$ m/s $= 10$ cm/s.
Final Answer:
The speed is $10$ cm/s, option (B).
\[ \boxed{10\ \text{cm s}^{-1}} \]