Step 1: Analysis
The concentration decreases from $0.4\text{ M} \rightarrow 0.2\text{ M}$ (1st half-life) and then $0.2\text{ M} \rightarrow 0.1\text{ M}$ (2nd half-life).
Step 2: Relation
Total time $x$ corresponds to two half-lives ($2 \times t_{1/2}$).
Step 3: Calculation
$2 \cdot t_{1/2} = x \implies t_{1/2} = \frac{x}{2}$.
Step 4: Conclusion
The half-life is $\frac{x}{2}$ hour.
Final Answer: (C)