The words entrants, entrance sound the same but have different meanings and spellings. Why do entrants, entrance sound the same even though they are completely different words?
The answer is simple: entrants, entrance are homophones of the English language.
To fill with delight, wonder, or enchantment: a child who was entranced by a fairy tale. See Synonyms at charm, enrapture.
To put into a trance.
Nautical The immersed part of a ship's hull forward of the middle body.
The first entry of an actor into a scene.
Plural form of entrant.
Definitions from The American Heritage® Dictionary of the English Language, 4th Edition, from Wiktionary, Creative Commons Attribution/Share-Alike License and Wordnik.
Homophones (literally "same sound") are usually defined as words that share the same pronunciation, regardless of how they are spelled.