Enriqueta, please don't post in ALL CAPS. When you write the Official Answer in your post, please highlight it and press the SPOILER button to hide the answer from people who want to attempt the question before they see the right answer.
Ok, on to your question:
There are 42 people. Some people are students, some people are employed. We want to find out how many belong to both groups. Keep in mind that some may belong to neither group.
Since this is an overlapping group question, we could use the formula group1+group2+neither-both=total --> 42=employed+students+neither-both. We're looking for both.
(1) employed=29. put that in the equation to get 42=29+students+neither-both. We cannot solve for both. NOT SUFFICIENT
(2) students=24. put that in the equatino to get 42=employed+24+neither-both. We cannot solve for both. NOT SUFFICIENT
To merge statements, put all the known data in the equation. 42=29+24+neither-both. Because we don't know the value of neither, we cannot solve for both. NOT SUFFICIENT
The answer is E. For a more detailed discussion, or to watch the step by step video solution, see
GMATPrep Question 1347. To practice similar questions, set topic='Sets & Groups' and difficulty='500-600' in the Drill Generator
Hope that helps,
-Patrick