Step 1: Apply Faraday's law of electromagnetic induction.
The magnitude of induced emf is
\[
E=\left|\frac{\Delta\Phi}{\Delta t}\right|.
\]
Here,
\[
\Delta\Phi=(8-2)\ \mathrm{mWb}=6\times10^{-3}\ \mathrm{Wb},
\]
and
\[
\Delta t=0.2\ \mathrm{s}.
\]
Step 2: Calculate the induced emf.
\[
E=\frac{6\times10^{-3}}{0.2}
=3\times10^{-2}\ \mathrm{V}
=30\ \mathrm{mV}.
\]
Hence,
\[
\boxed{30\ \mathrm{mV}}
\]
Therefore,
\[
\boxed{(B)}
\]
is the correct answer.