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GMAT 1: 760 Q51 V42
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Rate of A = 240/x
Rate of B = 240/y
Let t be the time required for A and B to produce 240.

Therefore, t(240/x+240/y)=240
t(1/x+1/y)=1
1/x+1/y=1/t
xy/(x+y)=t
Question becomes:

What is the value of xy/(x+y)?
Statement 1 answers the question directly, so it is sufficient.
Statement 2 provides the time of x but does not provide any information about y. Not sufficient.
So the correct Answer is A.
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Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

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