We are given that the inner radius \( r \) and outer radius \( R \) satisfy the condition \( r^2 = \frac{R^2}{2} \).
For a rigid annular disc executing simple harmonic motion, the time period \( T \) is related to the moment of inertia \( I \) of the disc and the restoring force. The formula for the time period of small amplitude oscillations is:
\[
T = \beta \pi \sqrt{\frac{I}{m g d}}
\]
where \( I \) is the moment of inertia, \( m \) is the mass, and \( d \) is the distance from the pivot point.
For an annular disc, the moment of inertia about a pivot point located at the edge of the disc is:
\[
I = \frac{1}{2} m (r^2 + R^2)
\]
where \( r \) and \( R \) are the inner and outer radii, and \( m \) is the mass of the disc.
Substituting the given condition \( r^2 = \frac{R^2}{2} \) into the expression for \( I \):
\[
I = \frac{1}{2} m \left( \frac{R^2}{2} + R^2 \right) = \frac{1}{2} m \left( \frac{3R^2}{2} \right) = \frac{3}{4} m R^2
\]
Now, substituting this into the formula for the time period \( T \):
\[
T = \beta \pi \sqrt{\frac{R}{g}} = 2 \pi \sqrt{\frac{R^2}{g}} = 2.62 \, \text{s}
\]
Final Answer:
Thus, \( \beta = \boxed{2.70} \).