Step 1: Identify the vertical height from orifice to ground.
The orifice is at the bottom of the tank and the tank is kept on a platform of height \(1.5\,m\).
\[
h = 1.5\,m
\]
Step 2: Water comes out horizontally.
Since the hole is on the side of the tank, water initially comes out horizontally.
So, the vertical component of velocity initially is zero.
Step 3: Vertical speed gained while falling.
The vertical speed gained by water before reaching the ground is:
\[
v_y = \sqrt{2gh}
\]
Step 4: Substitute values.
\[
v_y = \sqrt{2 \times 10 \times 1.5}
\]
\[
v_y = \sqrt{30}
\]
Step 5: Calculate speed.
\[
v_y = 5.47\,ms^{-1}
\]
Step 6: Final conclusion.
\[
\boxed{5.47\,ms^{-1}}
\]
Hence, correct answer is option (C).