Step 1: Apply the fan affinity law.
For a centrifugal fan,
\[
Q \propto N,
\]
where \(Q\) is the air quantity and \(N\) is the rotational speed.
Step 2: Calculate the new discharge.
Given,
\[
Q_1=70\ \mathrm{m^3/s},\qquad
N_1=600\ \mathrm{rpm},\qquad
N_2=300\ \mathrm{rpm}.
\]
Using
\[
Q_2=Q_1\left(\frac{N_2}{N_1}\right),
\]
\[
Q_2
=
70\left(\frac{300}{600}\right)
=
70\times\frac12
=
35\ \mathrm{m^3/s}.
\]
Hence,
\[
\boxed{35\ \mathrm{m^3/s}}
\]
is the correct answer.
Therefore,
\[
\boxed{(B)}
\]
is the correct answer.