You genuinely need to know the general Volume formula for a pyramid here, and you need to know quite a bit about how pyramids are defined, to answer correctly. Since you need to know nothing at all about pyramids for the GMAT, this is not a realistic question.
Often when people think of a pyramid, they think of a square base, connected to a point in the air that is directly above the centre of the square. But in math, the base of a pyramid can be literally any kind of polygon - a square, a scalene triangle, a rectangle, an irregular octagon, etc - and the point in the air connected to that base can be anywhere at all (it doesn't need to be over the centre of the base).
I could easily imagine a test taker who knows what a pyramid is reading this question, and thinking "using Statement 2 alone, I don't even know what kind of base the pyramid has (is it a triangle or a decagon?), and even using both Statements, I don't know if the top of the pyramid is over the centre of the square base, so the answer is probably E". Unless you had studied pyramids in detail, it seems perfectly reasonable to me to think that the shape of the base and the position of the top point both might be important when you need to compute a pyramid's volume. It turns out neither of those things actually matter, but you'd only know that for sure if you knew the general volume formula for a pyramid, which is a formula you'd never need on the GMAT. Any pyramid, regardless of the shape of the base, and regardless of the location of the top point, has a volume of (1/3)(Area of base)(height). That's why in this question Statement 2 is all we need to find the ratio requested (since we know the heights are equal), but this question is well out of the scope of the GMAT.
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