Step 1: Understanding the Concept:
In Young's experiment the fringe width is \(\beta = \dfrac{\lambda D}{d}\). It is proportional to the screen distance D.
Moving the screen closer to the slits makes the fringes narrower.
Step 2: Key Formula or Approach:
Change in fringe width \(\Delta\beta = \dfrac{\lambda\,\Delta D}{d}\). So \(\lambda = \dfrac{d\,\Delta\beta}{\Delta D}\).
Step 3: Substitute the data:
\(d = 1\ \text{mm} = 1 \times 10^{-3}\ \text{m}\), \(\Delta\beta = 0.03\ \text{mm} = 3 \times 10^{-5}\ \text{m}\), \(\Delta D = 5\ \text{cm} = 5 \times 10^{-2}\ \text{m}\).
\[ \lambda = \frac{(1 \times 10^{-3})(3 \times 10^{-5})}{5 \times 10^{-2}} \]
\[ \lambda = 6 \times 10^{-7}\ \text{m} = 600\ \text{nm} \]
Final Answer:
The wavelength of the light is 600 nm.
\[ \boxed{\lambda = 6 \times 10^{-7}\ \text{m}} \]