Step 1: Concept
According to the law of conservation of energy, the potential energy at height $h$ ($mgh$) is converted into kinetic energy ($\frac{1}{2}mv^2$) at the bottom.
Step 2: Speed Analysis
Since $mgh = \frac{1}{2}mv^2$, the final speed $v = \sqrt{2gh}$ depends only on the height $h$, not the incline angle. Thus, both stones have the same speed at the bottom.
Step 3: Time Analysis
The acceleration along an incline is $a = g \sin \theta$. The steeper track (Track II) has a larger angle $\theta$, resulting in higher acceleration.
Step 4: Conclusion
Higher acceleration over a shorter path (steep track) means Stone II reaches the bottom first.
Final Answer: (C)