I have been given a toshiba ps1...

Yes, it is too old.

1.It still uses Windows 98

2.It has a processor that operates at 475MegaHertz. (AMD K6-2)

3.It has a 12 inch LCD screen

4.It comes with 64MegaBytes of installed ram memory, and the Maximum Total Amount is 192MB that can be installed. (It uses SDR Sdram)

I realize that money does not grow on trees, and is hard to come by. I am not basing my solution/answer, frivolously, nor childlike, nor to be offensive in any way.

Windows 98 is no longer supported by Microsoft. It is a virus magnet. Most devices now will not interact with Windows 98. (Cameras, phones, etc.)

An AMD K6 processor is equivalent to an Intel Pentium II. So S-L-O-W, you could fix dinner, wash dishes, and still have time left over waiting for a page to come up, from a search you did on the internet. Okay, not quite that slow, but after you click on a web page from a search, you could smoke a cigarette while you wait, for it to come up.

64MB of RAM? Even 192MB? And SDR Sdram to top it off? You couldn't even install Windows XP on that laptop. Requires AT leas,t 256MB of ram memory. (Should have at least 512MB. The previous statement was from Microsoft)

Around my area you could sell it for around $50, IF, you could get someone to buy it. (You can buy laptops that have a Pentium 4 processor, and 1024MB of ram, for around $100)
A battery alone will cost you that much, much less a new AC adapter, (Charger)

Conclusion? No sir, no ma'am. Retire the laptop, it's not worth wasting money on.

http://www1.dealtime.co.uk/xPF-Toshiba-Satellite-1640CDT-PS164E-49986-01

Remove the AC adaptor and switch the laptop on and see how long the power lasts. Use until the laptop powers off and rechrge again. This should help. If the battery does not last at least for at least 30 minutes then you need to buy a new battery. Alternatively you can always use the laptop without the battery just with the AC adaptor.
All the best!