The ratio of the areas of two similar triangles is the square of the ratio of their corresponding sides, including the corresponding altitudes.
Let the corresponding altitude of the bigger triangle be \(x\). The ratio of the areas is:
\[
\frac{81}{49} = \left(\frac{x}{3.5}\right)^2
\]
Taking square roots on both sides:
\[
\frac{9}{7} = \frac{x}{3.5}
\]
Solving for \(x\):
\[
x = \frac{9}{7} \times 3.5 = 9.5 \, \text{cm}
\]
Thus, the correct answer is option (1).