Step 1: Understanding the Concept:
For elastic collision, $v_1 = \frac{m_1 - m_2}{m_1 + m_2} u_1$.
Step 2: Detailed Explanation:
Given $v_1 = \frac{u_1}{4}$, so $\frac{m_1 - m_2}{m_1 + m_2} = \frac{1}{4}$. With $m_1 = 2$ kg, $\frac{2 - m_2}{2 + m_2} = \frac{1}{4} \Rightarrow 8 - 4m_2 = 2 + m_2 \Rightarrow 6 = 5m_2 \Rightarrow m_2 = 1.2$ kg.
Step 3: Final Answer:
The mass of the second body is $1.2$ kg.