Elderly can be an adjective and a noun. If you use it as a noun, it is plural and requires the word "the" in front of it. It refers to ALL old people as a group, an entire population. It doesn't refer to a small group of old people.
as adjective...
An elderly man.
The elderly women.
An elderly group.
as a noun...
The elderly. (all the old people everywhere)
So you need to say...
"In all, there were more than 70 elderly people who joined this activity."
note: you need to say "... WHO joined this activity."