Let Mass 1 be the one on the table
Let Mass 2 be the one on the other end
Mass 1 Equation of Motion
T = M1a1
Mass 2 Equation of Motion
-T + m2g = m2a2
Note acceleration a1 = a2 = a (Same acceleration same variable, interconnected bodies via a single string)
Therefore
T = m1a Equation 1
-T + m2g = m2a Equation 2
Sub equation 1 onto equation 2
-(m1a) + m2g = m2a
a = m2g / m1+m2
Please note a1 = a = V^2/R (Centripetal acceleration of mass 1)
V^2 = (m2g/m1+m2)*R Equation 3
Now,
Circular motion Velocity
V = w * R
w = V/R Equation 4
Also,
w = θ/t
θ = 2π rad (Full revolution)
w = 2π / t
t = 2π/w Equation 5
Sub in Equation 4 into Equation 5
t = 2π/V/R = 2πR/V Equation 6
Take Equation 3 and solve for V
V^2 = (m2g/m1+m2)*R Equation 3
V^2 = (87*9.81/7+87)*5
V = 6.73 m/s
Now use Equation 6 to solve for the period
t = 2πR/V = 2π*5/6.73 = 4.66 seconds