Step 1: Understanding the Concept
About the central axis perpendicular to the plane, \(I_0=\dfrac{1}{2}MR^{2}\). The axis through P is parallel to it, so the parallel axis theorem applies.
Step 2: Calculation
\(I=\dfrac{1}{2}MR^{2}+Mx^{2}\)
Given \(I=MR^{2}\).
Step 3: Solve for x
\(Mx^{2}=\dfrac{1}{2}MR^{2}\), so \(x^{2}=\dfrac{R^{2}}{2}\) and \(x=\dfrac{R}{\sqrt{2}}\).
Step 4: Check
This is less than \(R\), as the question requires.
Final Answer:
The distance is R divided by root 2.
\[ \boxed{\text{(C) }\dfrac{R}{\sqrt{2}}} \]