The outer solenoid forms an LC circuit, while the smaller solenoid is completely inside it and shorted on itself. A changing current in the outer coil induces an opposing current in the inner coil, so the capacitor does not see the full inductance L.
For a long solenoid, L = μ₀n²Al. Substituting 2N, S/2, and d/2 gives the same inductance as the larger coil.
The large coil field is μ₀NI. The smaller coil has Nd turns and area S/2, so its flux linkage is (L/2)I.
Since the inner coil is shorted with no resistance, its net induced emf is zero, making its current oppose the outer current change.