Strange question - you obviously need to know about both x and y, so neither statement could be sufficient alone. But Statement 1 gives us the value of x, and Statement 2 gives us the value of y, so of course we can answer any question in the universe about x and y using both Statements, and the answer is C.

There's no reason to bother doing any calculation here, but if you do find the values of x and y, you'll find that x = 4/π, and y = π/2, so xy = 2.