Step 1 :Given the rate of change of the radius (dr/dt) is 3 mm/s and the diameter is 40 mm, so the radius is 20 mm.
Step 2 :Using the formula dV/dt = (4 * pi * r^2) * dr/dt, we can plug in the values: dV/dt = (4 * pi * (20)^2) * 3.
Step 3 :Calculate the final answer: \(dV/dt = 15079.64 \, \mathrm{mm}^{3} / \mathrm{s}\)
Step 4 :\(\boxed{15079.64}\) is the rate at which the volume is increasing when the diameter is 40 mm.