Concept:
The moment of inertia of a solid disc about its central axis is:
\[
I = \frac{1}{2}MR^2
\]
For discs of equal mass, $I \propto R^2$.
Step 1: Relate mass, radius, and density
Mass of a disc:
\[
M = \text{Volume} \times \text{Density}
\]
\[
M = (\pi R^2 t)\, d
\]
where $t$ is thickness and $d$ is density.
Since $M$ and $t$ are constant:
\[
\pi R^2 t \cdot d = \text{constant}
\]
\[
R^2 \propto \frac{1}{d}
\]
Step 2: Compare two discs
For two discs:
\[
\frac{R_1^2}{R_2^2} = \frac{d_2}{d_1}
\]
Step 3: Ratio of moments of inertia
Since $I \propto R^2$:
\[
\frac{I_1}{I_2} = \frac{R_1^2}{R_2^2}
\]
\[
\Rightarrow \frac{I_1}{I_2} = \frac{d_2}{d_1}
\]
Final Answer:
\[
\boxed{\frac{I_1}{I_2} = \frac{d_2}{d_1
\]