Explain the principle of conservation of energy based potential energy and kinetic energy and how they exchange with each other. can yall just answer the question pls LOL

Two masses are connected by a rope that hangs over a pulley as shown below. the pulley is a uniform cylinder of radius 푅=0.381meters and mass 푀=3.1푘푔. initially 푚"is on the ground and 푚#rests 2.5 meters above the ground. if the system is released, use conservation of energy to determine the speed of 푚#just before it strikes the ground. assume the pulley bearing is frictionless.