both of them will rise to equal height as distance travelled by it( S) is given by:
S=ut+1/2 *at²
so it does not depend on mass
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the effect of gravity will be same as g will be -9.8m/s2
and inertia? because inertia is the measure of mass.... so, more the mass, more will be the inerta
errr....i m not so sure abt that....let me ask any senior..
thnxx.... let me kno as fast as possible
The balls will rise to the same height but because their weights differ the one with the smaller weight will tend to spend more time in the air
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When bodies are thrown upwards vertically, the equations of motion applicable are 

v = u + at 
v² - u² = - 2 g s   or            v² - u² = 2 g s
s or h = u t + 1/2  g t²   or     s or h = ut - 1/2 g t²   

The quantities v, g, t, s do not depend on mass.  

Height reached when v = 0,   so height = u/√(2g)

The Earth attracts all objects with the same acceleration due to gravity g. it is g which is responsible for increase of decrease of velocity. The velocity determines the height.

More mass or more inertia requires more force to make the object move with the same speed. So small object requires small force to move at speed,  Big object requires larger force to throw, if you give it same initial speed. Muscles give more pain.  Because you give more force.   But as Force = mass * acceleration,  the acceleration is same.

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