Hi Kiran..
A funny question indeed..
The ans is:
Step 1: Cut it horizontally at diameter's length
Step 2: Vertical cut (again @diameters length)
By now you have 4 equal pc.
Step 3:......upside down direction (from the middle) of the cake cut it into two pc..you now have 8 equal pc :-)
By the way, what was the position you have applied for..
Rgds
Shuchi Punjani