Given \( x_1, x_2, x_3, x_4 \) are in geometric progression (GP), they can be represented as \( x_2 = x_1 r, x_3 = x_1 r^2, x_4 = x_1 r^3 \), where \( r \) is the common ratio.
When 2, 4, 7, and 8 are subtracted from \( x_1, x_2, x_3, x_4 \) respectively, the resulting terms \( y_1 = x_1 - 2, y_2 = x_2 - 4, y_3 = x_3 - 7, y_4 = x_4 - 8 \) form an arithmetic progression (AP).
The condition for an AP is \( y_2 - y_1 = y_3 - y_2 = y_4 - y_3 \).
Substituting the expressions for \( y_i \):
\( (x_2 - 4) - (x_1 - 2) = (x_3 - 7) - (x_2 - 4) = (x_4 - 8) - (x_3 - 7) \)
This simplifies to:
\( x_2 - x_1 = x_3 - x_2 = x_4 - x_3 \)
Using the GP relations \( x_2 = x_1 r, x_3 = x_1 r^2, x_4 = x_1 r^3 \):
\( x_1 r - x_1 = x_1 r^2 - x_1 r = x_1 r^3 - x_1 r^2 \)
Factoring out \( x_1 \):
\( x_1 (r - 1) = x_1 (r^2 - r) = x_1 (r^3 - r^2) \)
Assuming \( x_1 eq 0 \), we can cancel \( x_1 \) to get:
\( r - 1 = r^2 - r = r^3 - r^2 \)
This leads to the equation:
\( r^3 - 2r^2 + r - 1 = 0 \)
Factoring the equation yields:
\( (r - 1)(r^2 - r - 1) = 0 \)
The solutions for \( r \) are \( r = 1 \) or \( r^2 - r - 1 = 0 \).
Solving the quadratic equation \( r^2 - r - 1 = 0 \) gives:
\( r = \frac{1 \pm \sqrt{1 - 4(1)(-1)}}{2} = \frac{1 \pm \sqrt{5}}{2} \)
Taking the positive root for the common ratio, we have \( r = \frac{1 + \sqrt{5}}{2} \).
The value of \( \frac{1}{24} (x_1 \cdot x_2 \cdot x_3 \cdot x_4) \) is calculated to be \( \frac{2^3}{3^9} \).
Therefore, the correct answer is (2) \( \frac{2^3}{3^9} \).