Answer
The speed of the penguin before it lands on the ice will be less than its initial speed when it comes out from the water.
Work Step by Step
We know that for projectile motion, the initial and final point are on the same level and hence the corresponding velocities remain the same. In the case of the penguin, it lands at an elevation which is above the water. Thus, the speed of the penguin before it lands on the ice will be less than its initial speed when it comes out from the water.
