The focal length of a double concave lens can be calculated using the lensmaker's formula. Given that the refractive index is \( n = 1.5 \) and the radii of curvature are \( R_1 = 20 \, \text{cm} \) and \( R_2 = 80 \, \text{cm} \), the focal length is calculated to be 24 cm. Thus, the correct answer is option (2).