nevermind. I finally understood this! Let me try to explain it-
Set S consists of all the positive multiples of 5 that are less than K, and K is a positive integer not divisible by 5. The mean of Set S is not divisible by 5. Let N be the number of members of the set. N is not divisible by 5. What does N equal?
(1) N < 52
(2) K/5 > 48
so set S could look like {5,10,15,20,25,.....5*N} where N is the total number of elements in the set S.
We can also write this set as {5*1, 5*2, 5*3, 5*4, 5*5,.....5*N}. We have given that the last number which is 5*N is less than K. So we can write that K>5*N. So for example, if our set consists of only 4 numbers, i.e, {5,10,15,20} the K could be any number greater than 20 and not a multiple of 5 (or divisible by 5).
Another thing to notice here is that mean of set S is not divisible by 5. Since its a set of all numbers that are at a constant distance of 5, the mean could be the middle number if a total number of elements are odd. For example, if the set has 3 terms, {5,10,15} the mean could be middle number 10. So if the set S is not divisible by 5, it means it must have even number of terms. So N is even.
So far we got-
N is even
K>5*N
We have to find the value of N?
Statement 1)
N<52, so N could be any even number less than 52. NOT SUFFICIENT
Statement 2) K/5 > 48
or we can write: K > 5*48
Since we know that K>5*N and from above we get K>5*48, this suggests that N could 48 or any even number greater than 48, not divisible by 5. So N could be 48, 52, 54 etc.
NOT SUFFICIENT
Taking 1) and 2) together,
From one we get N<52 and from statement 2, we get N could be 48 or higher
so possible values of N could be 48, 49, 50, 51, but since N has to be even and not divisible by 5, the only value we are left with is 48. Thus answer (C).