Let's evaluate the statements one by one to determine which is not true for radioactive decay.
Statement 1: The amount of radioactive substance remaining after three half-lives is \( \frac{1}{8} \)th of the original amount.
This statement is true. Radioactive substances decay by half over each half-life period. After one half-life, \( \frac{1}{2} \) remains; after two half-lives, \( \frac{1}{4} \) remains; and after three half-lives, \( \frac{1}{8} \) remains. Mathematically, this is expressed as \( \frac{1}{2^n} \) for \( n \) half-lives.
Statement 2: Decay constant does not depend upon temperature.
This statement is true. The decay constant (\( \lambda \)) is a characteristic of each radioactive isotope and does not change with temperature or pressure.
Statement 3: Decay constant increases with increase in temperature.
This statement is false. As established, the decay constant is independent of temperature changes, making this statement incorrect in the context of radioactive decay.
Statement 4: Half-life is \( \frac{\ln(2)}{\text{rate constant}} \).
This is a true statement. The half-life \( t_{\frac{1}{2}} \) is related to the decay constant by the formula \( t_{\frac{1}{2}} = \frac{\ln(2)}{\lambda} \).
Therefore, the incorrect statement regarding radioactive decay is: "Decay constant increases with increase in temperature."