Step 1: Find the externally dividing point
Using the section formula for external division, the coordinates of the point \( P(x,y) \) dividing the segment joining \( A(1,2) \) and \( B(-3,5) \) in the ratio \( m:n = 4:3 \) externally is given by:
\[
x = \frac{m x_2 - n x_1}{m - n}, \quad y = \frac{m y_2 - n y_1}{m - n}
\]
Substituting values:
\[
x = \frac{4(-3) - 3(1)}{4 - 3} = \frac{-12 - 3}{1} = -15.
\]
\[
y = \frac{4(5) - 3(2)}{4 - 3} = \frac{20 - 6}{1} = 14.
\]
So, the required point is \( (-15,14) \).
Step 2: Find the equation of the line with given slope
The equation of a straight line with slope \( m = -\frac{2}{3} \) passing through \( (-15,14) \) is given by:
\[
y - y_1 = m (x - x_1)
\]
Substituting:
\[
y - 14 = -\frac{2}{3} (x + 15)
\]
Multiplying throughout by 3 to eliminate fraction:
\[
3(y - 14) = -2(x + 15)
\]
\[
3y - 42 = -2x - 30
\]
\[
2x + 3y - 12 = 0
\]
Step 3: Conclusion
Thus, the correct answer is:
\[
\mathbf{2x + 3y - 12 = 0}
\]
\bigskip