Step 1: Understanding the Concept:
A rolling sphere has translational and rotational kinetic energy. For rolling without slipping, \(v = \omega R\), and for a solid sphere \(I = \frac25 mR^2\).
Step 2: Total energy:
\[ K = \frac12mv^2 + \frac12I\omega^2 = \frac12mv^2 + \frac12\cdot\frac25mR^2\cdot\frac{v^2}{R^2} = \frac12mv^2 + \frac15mv^2 = \frac{7}{10}mv^2 \]
Step 3: Solve:
\(\frac{7}{10}(1)v^2 = 7\times10^{-3}\), so \(v^2 = 10^{-2}\), and \(v = 0.1\) m/s \(= 10\) cm/s.
Final Answer:
The speed is \(10\) cm/s, option (B).
\[ \boxed{10\ \text{cm s}^{-1}} \]