Concept:
The water content, void ratio and degree of saturation are related by
\[
\boxed{w=\frac{Se}{G}}
\]
where
\[
w=\text{Water content},\quad
S=\text{Degree of saturation},\quad
e=\text{Void ratio},\quad
G=\text{Specific gravity of solids}.
\]
Also,
\[
\boxed{e=\frac{n}{1-n}}
\]
where \(n\) is the porosity.
Step 1: Calculate the void ratio.
Given,
\[
n=30\%=0.30.
\]
Therefore,
\[
e=\frac{0.30}{1-0.30}
=\frac{0.30}{0.70}
=0.4286.
\]
Step 2: Calculate the degree of saturation.
Given,
\[
w=4.94\%=0.0494,\qquad
G=2.6.
\]
Using
\[
w=\frac{Se}{G},
\]
\[
S=\frac{wG}{e}
=\frac{0.0494\times2.6}{0.4286}
\approx0.30.
\]
Hence,
\[
S=30\%.
\]
Therefore,
\[
\boxed{\text{Degree of saturation}=30\%.}
\]
Hence, the correct option is
\[
\boxed{(C)\;30\%.}
\]