A bullet looses of its velocity passing through one plank. The number of such planks that are required to stop the bullet can be :
Infinite
                
                   Let the bullet be traveling at a speed  before entering the first plank.
If it loses  velocity its new velocity will become 
Kinetic energy lost
Now, let N be the number of planks after which the velocity of the bullet becomes 0.
Thus we get
or