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In the absence of other information, it is the most efficient.
1. it is always convergent. 2. it is easy
The rate of convergance for the bisection method is the same as it is for every other iteration method, please see the related question for more info. The actual specific 'rate' depends entirely on what your iteration equation is and will vary from problem to problem. As for the order of convergance for the bisection method, if I remember correctly it has linear convergence i.e. the convergence is of order 1. Anyway, please see the related question.
The root of f(x)=(1-0.6x)/x is 1.6666... To see how the bisection method is used please see the related question below (link).
The main disadvantage of the bisection method for finding the root of an equation is that, compared to methods like the Newton-Raphson method and the Secant method, it requires a lot of work and a lot of iterations to get an answer with very small error, whilst a quarter of the same amount of work on the N-R method would give an answer with an error just as small.In other words compared to other methods, the bisection method takes a long time to get to a decent answer and this is it's biggest disadvantage.