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There is a mistake in the 1st line of question.  The dimension of the paper are 88 cm * 28 cm.

Since the height of cylinder is 28 cm.  The side of 88 cm is folded to become the circumference of the flat face of cylinder. 

Radius of cylinder  =  R   =>   2 π R = 88 cm  =>  R = 14 cm

Volume = π R² h = π * 14² * 28 cm³ = 5488 cm³