Say the radius of the balloon, as a function of time, is r(t).
We know that the volume of the sphere is then V(t)=(4/3)π(r(t))3. Differentiating both sides with respect to t (and remembering the chain rule) yields
V'(t)=4π(r(t))2r'(t).
We are told that V'(t)=5. Therefore, assuming the initial volume of the balloon is 0, we have V(t)=5t. Plugging these into our formulas yields
5t=(4/3)π(r(t))3
5=4π(r(t))2r'(t)
Finally, we care about the moment when t=2 minutes=120 seconds. Plugging this in yields a system of equations
5·120=(4/3)π(r(120))3
5=4π(r(120))2r'(120)
Solving the first equation, we get that r(120)=(450/π)1/3. Plugging this into the second equation yields
5=4π(450/π)2/3r'(120)
and now solving for r'(120) is simple.