My question is as in the title: is there an example of a (unital but not necessarily commutative) ring $R$ and a left $R$-module $M$ with nonzero submodule $N$, such that $M \simeq M/N$?
What if $M$ and $N$ are finitely-generated? What if $M$ is free? My intuition is that if $N$ is a submodule of $R^n$, then $R^n/N \simeq R^n$ implies $N=0$. It seems like $N\neq 0$ implies $R^n/N$ has nontrivial relations, so $R^n/N$ can't be free.
If $R^n/N \simeq R^n$, we'd have an exact sequence
$0 \rightarrow N \hookrightarrow R^n \twoheadrightarrow R^n/N \simeq R^n \rightarrow 0$
which splits since $R^n$ is free, so $R^n \simeq R^n \oplus N$. Does this imply $N=0$? What if we assume $R$ is commutative, or even local? Maybe Nakayama can come in handy.
I'm interested in noncommutative examples too. Thanks!