Im going to go with C.
Statement 1) When N is rounded to the nearest hundred, the result is 50 less than the result when N is rounded to the nearest ten.
Under this assumption, the tens digit has to be less that 5 so N rounds down. Then the units digit would have to be 5 through 9 so that it rounds up. So for example, N could be 149 through 145. (i.e. 149 rounds down to 100 if rounding to nearest 100 & 149 rounds up to 150 if rounding to nearest 10.) But since we have multiple numbers that we can use, statement 1 in insufficient.
Statement 2) N is divisible by 4
Ignoring statement 1, N could could have several solutions again. Example 104, 108, 112 etc. With no other info, statement 1 is insufficient.
Combining the statements) Since we know the 3 digit N is divisible by 4, it will not matter what the hundreds digit is for N. (From the rules of division, we only have to prove the last 2 digits in a number is divisible by 4 to prove that the entire number is also divisible by 4.) Therefore, we can use the numbers we came up in working statement 1 - 149, 148, 147, 146, and 145. Of these numbers, only 148 is divisible by 4.
Therefore C is the answer.
Solid question Bunuel. +1