@Holmes
Each of the strings will burn for one hour. But if you light both of them at the same time they will both be burned down after one hour of course.
They don't need to have the same length, material, colour, thickness or anything like that. They just burn for one hour each.
@awy
I never heard of this one before, it's quite interessting...
But is the task really to measure 15seconds, not 15minutes or one minute instead of one hour? I would know how to do that...
Well, I will just post my answer for the 15min anyway
I really wouldn't have a clue on how to do 15sec but maybe someone will come up with an idea.

Thanks for posting this....
"It is one of those instances where the reasoner can produce an effect which seems remarkable to his neighbor, because the latter has missed the one little point which is the basis of the deduction."
Sherlock Holmes