Step 1: Understand the problem and assign variables.
Let the total distance between Jamshedpur and Kolkata be \( D \).
- The bus from Jamshedpur to Kolkata normally takes 4 hours to cover the distance \( D \), so its speed is \( \frac{D}{4} \).
- The bus from Kolkata to Jamshedpur normally takes 3 hours to cover the distance \( D \), so its speed is \( \frac{D}{3} \).
Step 2: Analyze the change in speed.
After 1 hour of travel, the bus from Jamshedpur to Kolkata reduces its speed to half. The new speed of the bus from Jamshedpur to Kolkata is \( \frac{D}{8} \).
Step 3: Calculate the distance covered in the first hour.
- The bus from Jamshedpur to Kolkata covers \( \frac{D}{4} \) in the first hour.
- The bus from Kolkata to Jamshedpur covers \( \frac{D}{3} \) in the first hour.
After 1 hour, the total distance covered by both buses is:
\[
\frac{D}{4} + \frac{D}{3} = \frac{3D + 4D}{12} = \frac{7D}{12}
\]
Thus, after the first hour, the remaining distance between the two buses is \( D - \frac{7D}{12} = \frac{5D}{12} \).
Step 4: Calculate the relative speed after the first hour.
After the first hour, the bus from Jamshedpur to Kolkata travels at \( \frac{D}{8} \), and the bus from Kolkata to Jamshedpur travels at \( \frac{D}{3} \). The relative speed between the two buses is:
\[
\frac{D}{3} + \frac{D}{8} = \frac{8D + 3D}{24} = \frac{11D}{24}
\]
Step 5: Calculate the time to meet.
The time taken for the buses to meet after the first hour is the remaining distance divided by the relative speed:
\[
\text{Time} = \frac{\frac{5D}{12}}{\frac{11D}{24}} = \frac{5D}{12} \times \frac{24}{11D} = \frac{5 \times 2}{11} = \frac{10}{11} \text{ hours}
\]
Thus, the total time to meet is the first hour plus the time taken to meet after the first hour:
\[
1 + \frac{10}{11} = \frac{21}{11} \text{ hours}
\]
Step 6: Conclusion.
The two buses meet after \(\frac{21}{11}\) hours. Therefore, the correct answer is (C) 2 hours.