The wave equation is given as \( y = A \sin \left( 2 \pi \left( \frac{r}{\lambda} - \frac{t}{T} \right) \right) \), where:
- \( A \) is the amplitude,
- \( \lambda \) is the wavelength,
- \( T \) is the period, and
- \( r \) is the position.
The maximum particle velocity is given by \( v_p = \omega A \), where \( \omega \) is the angular frequency. The wave velocity is \( v_w = \frac{\omega}{k} \), where \( k = \frac{2\pi}{\lambda} \) is the wave number.
Given that the maximum particle velocity is equal to four times the wave velocity, we have the equation:
\[
v_p = 4 v_w
\]
Substituting \( v_p = \omega A \) and \( v_w = \frac{\omega}{k} \), we get:
\[
\omega A = 4 \times \frac{\omega}{k}
\]
Simplifying, we find:
\[
A = 4 \times \frac{1}{k}
\]
Since \( k = \frac{2\pi}{\lambda} \), substituting this value:
\[
A = 4 \times \frac{\lambda}{2\pi}
\]
Solving for \( \lambda \), we get:
\[
\lambda = \frac{\pi A}{2}
\]
Thus, the correct answer is \( \lambda = \frac{\pi A}{2} \).