In this paper, we present a simple laboratory project for teaching real-time sampling rate conversions of digital signals using low-cost digital signal processors. Usually, the topic of the sampling rate conversion is discussed in the second digital signal processing (DSP) course in undergraduate programs of engineering technology. The paper deals with a situation for teaching sampling rate conversions when the different sampling rates of analog to digital conversion (ADC) and digital to analog conversion (DAC) cannot be flexibly set during real-time processing. To overcome this barrier, we employ a compromised way in which we first request students to store audio segments sampled at different sampling rates in the processor memory and let students implement their designed DSP algorithm to covert each pre-sampled audio segment to produce an output at the DAC sampling rate. The method could be applied as an alternative when the sampling rates for ADC and DAC devices in the DSP system cannot be freely changed for sampling rate conversions.