I had this question on MGMAT CAT 2. It says that the answer is A. Looking at statement 1, at first I thought I could just infer that x is 300% of y, since the equation is given. That seems to be the rationale behind A being the official answer choice.
However, I then noticed that the prompt did not specify that x and y are positive numbers. Couldn't x and y potentially both equal 0 if you don't take statement 2 into account? That would make (0)=3(0). In that case, it would be false to say that x is 300 percent of y, right? Is it correct to say that 0 is 300 percent of 0?
Picture of the question and answer below:
http://i.imgur.com/jNtUCUD.png