Sorry but i myself dont know the answer.
Well the experts will give the answer thats for sure.
but i do it in the following way ( plz see where am i getting the question wrong)
Suppose the horizontal distance is k
then when the string is paid out, it forms a rt triangle and
we get

=30 (sin 30=60/120)
also,
tan

=60/k
or

=tan^ -1(60/k)
now
d

/dt=d

/dk * dk/dt
=d(tan^ -1 (60/k))/dk * dk/dt
using calculator( i dont know how to get derivative of tan inverse)
i get,
answer= 1.19 degrees/sec
so where am i getting the answer wrong (i am not sure of my method, it looks a bit wrong. i dont know where but it looks so)