See, In case there ids no or neglible external force ( read air resistance) , the deceleration is g which is same for both the bodies. Hence the height travelled is same if initial veleocity is same.
But , in this case there is equal air resistive force on both the bodies.
Therefore deceleration caused by air resistive force on higher mass body will be lower than lower mass body (deceleration is g+ air resistive force/mass , higher the mass lower the deceleration))
therefore , higher mass body will travel higher . Hence answer is (b)