(b) We will solve the problem is terms of relative initial velocity, relative acceleration and relative displacement of the coin with respect to the floor of the lift.
$u = 10 - 10 = 0ms^{- 1},a = 9.8ms^{- 2}$, $s\ $= 4.9m, $t$=?
$4.9 = 0 \times t + \frac{1}{2} \times 9.8 \times t^{2}$
or $4.9t^{2} = 4.9\ or\ \ t = 1$s