Statement 1: |x| = 4
The absolute value of x is 4.
$$Hence,\ \pm x=4$$
So, x = 4 or -x = 4
x = 4 or x = -4
The value of x is not definite here. Therefore, statement 1 is NOT SUFFICIENT.
$$Statement\ 2:\ x^2=16$$
$$\pm\sqrt{x}=\sqrt{16}$$
$$\pm x=4$$
$$x=4\ or\ -x=4$$
$$x=4\ or\ x=-4$$
The value of x is not definite, hence, statement 2 is NOT SUFFICIENT.
Combining both statements:
The result of the expression in both statements are the same. Hence, no new information is obtained when the two statements are combined. Therefore, both statements combined together are not SUFFICIENT.
ANSWER = Option E