Step 1: Find the new radius of the Earth.
The volume of a sphere is
\[
V=\frac{4}{3}\pi R^3
\]
Given that the new volume is
\[
V'=\frac{V}{64}
\]
Therefore,
\[
\frac{4}{3}\pi R'^3=\frac{1}{64}\left(\frac{4}{3}\pi R^3\right)
\]
\[
R'^3=\frac{R^3}{64}
\]
Taking cube root on both sides,
\[
R'=\frac{R}{4}
\]
Hence, the radius becomes one-fourth of its original value.
Step 2: Use conservation of angular momentum.
Since no external torque acts on the Earth,
\[
I\omega=\text{constant}
\]
For a uniform solid sphere,
\[
I=\frac{2}{5}MR^2
\]
Since the mass remains unchanged,
\[
I\propto R^2
\]
Thus,
\[
\frac{I'}{I}=\left(\frac{R'}{R}\right)^2
=\left(\frac{1}{4}\right)^2
=\frac{1}{16}
\]
Therefore,
\[
I'=\frac{I}{16}
\]
Using conservation of angular momentum,
\[
I\omega=I'\omega'
\]
\[
I\omega=\frac{I}{16}\omega'
\]
\[
\omega'=16\omega
\]
Thus, the angular speed becomes \(16\) times the original angular speed.
Step 3: Relate angular speed to time period.
The time period of rotation is
\[
T=\frac{2\pi}{\omega}
\]
Hence,
\[
T'=\frac{2\pi}{\omega'}
=\frac{2\pi}{16\omega}
=\frac{T}{16}
\]
The present duration of a day is
\[
T=24 \text{ hours}
\]
Therefore,
\[
T'=\frac{24}{16}
\]
\[
T'=1.5 \text{ hours}
\]
Step 4: Final conclusion.
Therefore, the duration of the day will be
\[
\boxed{1.5 \text{ hours}}
\]