The purpose of the Ilbert Bill during the tenure of Lord Ripon was to give Indian magistrates the power to try Europeans. This bill aimed to address the discriminatory practice where European offenders in India could only be tried by European magistrates, while Indian magistrates did not have jurisdiction over Europeans. The bill sought to rectify this inequality by allowing Indian magistrates to preside over cases involving European defendants.
Option 1 - This option is not correct as the Ilbert Bill did not pertain to the possession of arms by Europeans or Indians.
Option 3 - This option is not correct as the Ilbert Bill did not have any relation to the annexation of territories of native princes.
Option 4 - This option is not correct as the Ilbert Bill did not concern the introduction of Western education in India.
In conclusion, the Ilbert Bill aimed to grant Indian magistrates the power to try European offenders, thereby promoting equality in the judicial system during Lord Ripon`s tenure.