I attached my work and highlighted my answers. Hope it makes sense! please comment back with any questions if anything is still unclear! :)
Answer:
B- They both have travelled equal distances in 7 minutes
Hope this helps!
Static equilibrium means that all forces are equal, so make this easiest you want to break F1 into it's horizontal and vertical components. As there are no other forces acting in the horizontal, we know the horizontal component of F1 is 40N. This allows the vertical component to be found using pythagorus theorem. After finding the vertical and horizontal components, you just have to add the vertical components to find the difference between the up and down.