Derive the efflux speed by energy conservation for a small liquid element and see that mass (density) cancels.
Energy view. A small mass $\Delta m$ of liquid effectively falls from the top surface to the hole through height $h$. Its potential energy loss converts to kinetic energy:
\[\Delta m\, g h=\tfrac{1}{2}\Delta m\, V^{2}.\]
Cancel mass. The mass $\Delta m$ appears on both sides and cancels:
\[gh=\tfrac{1}{2}V^{2}\;\Rightarrow\;V=\sqrt{2gh}.\]
Apply to both liquids. This result has no density term. Water and mercury are filled to the same height $h$, so each comes out with the same speed:
\[V_1=\sqrt{2gh}=V_2.\]
Even though mercury is $13.6$ times denser than water, that density does not change the exit speed for the same head.
\[\boxed{V_1=V_2}\]