Two sets are equal if they have exactly the same elements.
For Set M,
x+3<8
⇒x<5
Whole numbers less than 5 are 1,2,3,4
Hence, M={1,2,3,4}
For Set N, Natural numbers less than 5 are 1,2,3,4
Hence, N={1,3,5,7} as y=2n−1
Since sets M and N do not have the same elements, they are not equal sets.