Why do parachutes with a heavier load fall faster than a parachute with a lighter load?
The drag force the parachute produces is proportional to its size, shape and speed. Let's assume that for both light and heavy objects the parachute size and shape is the same, meaning that drag will depend only on speed. When falling, the gravity will accelerate the fall until drag force builds up to completely balance it. Since heavier objects are pulled down by stronger gravitational force, their fall will stabilize on higher speed.