Bunuel
For all positive numbers a and b, the function {a, b} = k, where k is the multiple of b nearest to a. If x and y are positive integers such that x/y= 15.25 and {xy, y} = 16, what is the value of y?
(1) {x/y, y} = {x/y, 2y}
(2) {x/y, y} = {x/y, y^2}
There are many issues with the question itself. The question defines a function "for all positive numbers", but the function makes no sense when b is not an integer. Nor is the function well-defined. What is the value of {3, 2}, for example? It could equal 2 or 4. A function, by definition, needs to produce a single well-defined value for any valid input, and this function does not. And the GMAT would never use mathematical notation, in this case set notation, that is already used for a well-defined purpose and repurpose it to define a function. If you do that, it then becomes unclear what {x, y} means - is that a set, or are we applying a function to x and y?
So as written I don't think the question is even worth attempting. If the issues with it were resolved, I imagine the intended answer is B; if {xy, y} is 16, then from the definition of the function, 16 needs to be a multiple of y, so y can only be 1, 2, 4, 8 or 16. Since x/y = 15.25, y cannot be 1 or 2, since we'd never get a decimal ending in .25 if we divide an integer by 1 or 2. Now that we know what x/y is, and have three cases for y, we can see which cases remain valid when considering each Statement, and Statement 2 only admits one value of y (4 only), while Statement 1 admits two different values (4 or 8).