The increase in the length of a wire on stretching is \(0.04\)%. If Poisson's ratio for the material of wire is \(0.5,\) then the diameter of the wire will:

A material has Poisson's ratio of \(0.5\). If a uniform rod made of it suffers a longitudinal strain of \(2\times 10^{-3}\), what is the percentage increase in volume?
1. \(2\%\)
2. \(4\%\)
3. \(0\%\)
4. \(5\%\)