We are given that the sides of the rectangle are in the ratio of 1 : 4. Let the length of the rectangle be \( x \) and the breadth be \( 4x \).
The area of the rectangle is given by:
\[
\text{Area of rectangle} = x \times 4x = 4x^2
\]
The area of the square is:
\[
\text{Area of square} = 8 \times 8 = 64 \, \text{cm}^2
\]
Equating the areas of the rectangle and the square:
\[
4x^2 = 64
\]
Solving for \( x \):
\[
x^2 = 16 \quad \Rightarrow \quad x = 4 \, \text{cm}
\]
Thus, the length of the rectangle is 4 cm, and the breadth is \( 4x = 16 \, \text{cm} \).
The perimeter of the rectangle is:
\[
\text{Perimeter} = 2 \times (x + 4x) = 2 \times (4 + 16) = 2 \times 20 = 40 \, \text{cm}
\]
Thus, the correct answer is \( \boxed{40} \).