Step 1: Identify the nature of the reaction.
The rate law is
\[
\text{Rate}=k[H_2O][CH_3CO_2C_2H_5]
\]
Here, water is present in very large excess:
\[
[H_2O]=2\,M
\]
while ethyl acetate concentration is very small:
\[
[CH_3CO_2C_2H_5]=0.001\,M
\]
So, the concentration of water remains nearly constant during the reaction.
Therefore, the reaction behaves as a pseudo-first-order reaction with respect to ethyl acetate.
Step 2: Use the pseudo-first-order rate equation.
For a first-order reaction,
\[
k'=\frac{2.303}{t}\log\frac{a}{a-x}
\]
where \(a\) is the initial concentration and \(a-x\) is the remaining concentration after time \(t\).
Given that \(99\%\) of ethyl acetate is hydrolyzed, so only \(1\%\) remains.
Therefore,
\[
\frac{a}{a-x}=\frac{100}{1}=100
\]
Also,
\[
t=10\,s
\]
Step 3: Calculate the pseudo-first-order rate constant.
\[
k'=\frac{2.303}{10}\log(100)
\]
Since
\[
\log(100)=2
\]
we get
\[
k'=\frac{2.303}{10}\times 2
\]
\[
k'=0.4606\,s^{-1}
\]
Step 4: Relate \(k'\) with the given rate constant \(k\).
Since
\[
\text{Rate}=k[H_2O][CH_3CO_2C_2H_5]
\]
and water concentration is constant, we write
\[
k'=k[H_2O]
\]
Thus,
\[
k=\frac{k'}{[H_2O]}
\]
Substituting values,
\[
k=\frac{0.4606}{2}
\]
\[
k=0.2303\,s^{-1}
\]
Step 5: Final conclusion.
Therefore, the value of rate constant is
\[
\boxed{0.2303\,s^{-1}}
\]