In machining, the Taylor tool life equation relates the cutting speed (\(V\)) and tool life (\(T\)) with an empirical constant \(C\) and the exponent \(n\):
\[
V T^n = C
\]
We are told that when the cutting speed \(V\) is doubled, the tool life \(T\) reduces to \( \frac{1}{8} \) of its original value. Let’s substitute this information into the equation.
Let the initial values be \( V_0 \) and \( T_0 \). Then,
\[
V_0 T_0^n = C
\]
After doubling the cutting speed:
\[
2V_0 \left( \frac{T_0}{8} \right)^n = C
\]
Since \(V_0 T_0^n = C\), we can equate:
\[
2V_0 \left( \frac{T_0}{8} \right)^n = V_0 T_0^n
\]
This simplifies to:
\[
2 \times 8^{-n} = 1
\]
Solving for \(n\), we get:
\[
8^{-n} = \frac{1}{2}
\]
Taking the logarithm:
\[
-n \log(8) = \log\left(\frac{1}{2}\right)
\]
\[
-n \log(8) = -\log(2)
\]
\[
n = \frac{1}{3}
\]
Thus, the correct answer is (B) \( \frac{1}{3} \).