The acceleration due to gravity is the same on the block going down, as it is on the block and bullet going up. (Note that m does not appear in the kinematic equations of motion for constant acceleration.) Since the magnitude of the displacement is the same going up as it is going down, and the starting velocity on the way down is the same as the ending velocity on the way up, the final speed of the block on the way down must be the same as the initial speed on the way up, since::
|2g*delta y|=|(v_final)^2 -(v_initial)^2)|.
Therefore, the time it took to reach the top from where the block fell must be the same as the time it took to fall the same distance down.