Both −OH and −O− are activating groups towards SE reaction. However, wWhile drawing resonating structures, (I) will have +ve charge on O atom whereas in II O will be neutral. Hence, the second one stabilises the intermediate more than the first one.
So, II is more reactive.
ii) II is more reactive
I has one activating as well as deactivating group. NO2 is an electron withdrawing group. While II has only activating group towards SE reaction.