we can use below relation to solve this question:
P(A or B)=P(A) + P(B) - P(A and B)
Now consider P(A)= probability that the student is in chess club
P(B)= probability that the student is in swim club
P(A or B)= probability that the student is in chess club or in swim club
P(A and B)= probability that the student is in chess club and swim club (student is part of both club)
and we need to find P(A). To find P(A) we will need P(A or B), P(B) and P(A and B).
(i) as per above relation, statement 1 only provide info. about student who are part of chess club or swim club i.e. P(A or B) so not sufficient.
(ii)this statement only provide info. about student who are part of swim club i.e. P(B) so not sufficient.
combining i and ii , we still not have information about P(A and B) so answer is E
I'll also suggest to go through Bunuel's explanation to know how to deal with numbers in such scenario.