Step 1: Use the moment of inertia of a ring about its diameter.
For a thin circular ring,
\[
I=\frac12MR^2.
\]
Given,
\[
I=98\times10^{-5}\,\text{kg m}^2,
\]
and
\[
M=100\,\text{g}=0.1\,\text{kg}.
\]
Hence,
\[
98\times10^{-5}
=
\frac12(0.1)R^2.
\]
Step 2: Find the radius.
Thus,
\[
R^2
=
\frac{98\times10^{-5}}{0.05}
=
196\times10^{-4},
\]
\[
R
=
14\times10^{-2}
=
0.14\,\text{m}.
\]
Step 3: Calculate the length of the wire.
Since the wire forms a complete circle,
\[
L=2\pi R.
\]
Taking
\[
\pi=\frac{22}{7},
\]
\[
L
=
2\times\frac{22}{7}\times0.14
=
0.88\,\text{m}
=
88\,\text{cm}.
\]
Hence,
\[
\boxed{L=88\,\text{cm}.}
\]
Therefore, the correct option is \(\boxed{(B)}\).