Step 1: Write the expression for magnetic field on the equatorial line.
For a short bar magnet, the magnetic field at a point on the normal bisector (equatorial line) is
\[
B_e=\frac{\mu_0}{4\pi}\frac{M}{r^3}
\]
Given,
\[
B_e=6.4\times 10^{-5}\,\text{T}
\]
at
\[
r_e=20\,\text{cm}=0.2\,\text{m}
\]
Step 2: Write the expression for magnetic field on the axial line.
For a short bar magnet, the magnetic field at a point on the axis is
\[
B_a=\frac{\mu_0}{4\pi}\frac{2M}{r^3}
\]
We have to find the field at
\[
r_a=40\,\text{cm}=0.4\,\text{m}
\]
Step 3: Take the ratio of axial and equatorial fields.
Dividing the two expressions,
\[
\frac{B_a}{B_e}
=
\frac{\dfrac{\mu_0}{4\pi}\dfrac{2M}{r_a^3}}
{\dfrac{\mu_0}{4\pi}\dfrac{M}{r_e^3}}
\]
\[
\frac{B_a}{B_e}
=
2\left(\frac{r_e}{r_a}\right)^3
\]
Substituting the values,
\[
\frac{B_a}{B_e}
=
2\left(\frac{0.2}{0.4}\right)^3
\]
\[
\frac{B_a}{B_e}
=
2\left(\frac{1}{2}\right)^3
\]
\[
\frac{B_a}{B_e}
=
2\times \frac{1}{8}
\]
\[
\frac{B_a}{B_e}
=
\frac{1}{4}
\]
Therefore,
\[
B_a=\frac{B_e}{4}
\]
\[
B_a=\frac{6.4\times 10^{-5}}{4}
\]
\[
B_a=1.6\times 10^{-5}\,\text{T}
\]
Step 4: Final conclusion.
Therefore, the magnetic field at \(40\,\text{cm}\) on the axis is
\[
\boxed{1.6\times 10^{-5}\,\text{T}}
\]