Babloo and Bunty were excitedly describing the result of the First nnual Running Race at Damapur High School. Snehal, Tanmay and Waman had been the three contestants.
“Tanmay won the race; Waman was in second place,” reported Babloo. Bunty disagreed. “It was Snehal who won. Tanmay came second.”
In fact, neither Babloo nor Bunty had given a correct version of the result as each had made one true and one false statement.

It is given that there are 3 racers. Hence the rank given will be 1,2 and 3

Let us assume the first statement of Babloo is true, then the second will be false(Hence Waman is not in $$2^{nd}$$ place). Based on this the ranking will be as follows

But this will imply that both of Bunty's statement is false which is not allowed. 

Therefore the first statement of Babloee is False and the second Statement is true. Ranking based on this will be 

In this, we see that one statement of Bunty is true and the other one is false. Hence this is the correct ranking