Step 1: Write the formula for elastic potential energy.
Elastic potential energy stored in a stretched rubber band is
\[
U=\frac{1}{2}\frac{YA(\Delta L)^2}{L}
\]
Here,
\[
Y=5\times 10^8\,\text{N m}^{-2}
\]
\[
A=5\,\text{mm}^2=5\times 10^{-6}\,\text{m}^2
\]
\[
L=2\,\text{cm}=2\times 10^{-2}\,\text{m}
\]
\[
\Delta L=2\,\text{cm}=2\times 10^{-2}\,\text{m}
\]
Step 2: Substitute the values.
\[
U=\frac{1}{2}\times \frac{(5\times 10^8)(5\times 10^{-6})(2\times 10^{-2})^2}{2\times 10^{-2}}
\]
\[
U=\frac{1}{2}\times \frac{(2500)(4\times 10^{-4})}{2\times 10^{-2}}
\]
\[
U=\frac{1}{2}\times \frac{1}{2\times 10^{-2}}
\]
\[
U=\frac{1}{2}\times 50
\]
\[
U=25\,\text{J}
\]
Step 3: Equate elastic potential energy to kinetic energy.
When the rubber band is released, its elastic potential energy is converted into kinetic energy of the stone.
So,
\[
\frac{1}{2}mv^2=25
\]
Mass of stone is
\[
m=20\,\text{g}=20\times 10^{-3}\,\text{kg}=0.02\,\text{kg}
\]
Thus,
\[
\frac{1}{2}\times 0.02 \times v^2=25
\]
\[
0.01v^2=25
\]
\[
v^2=2500
\]
\[
v=50\,\text{m s}^{-1}
\]
Step 4: Final conclusion.
Therefore,
\[
\boxed{50\,\text{m s}^{-1}}
\]