A very good data sufficiency problem which tests the basic idea behind data sufficiency which is identifying whether we can solve the problem NOT actually solving it.
I think it is obvious that none of the statements are individually sufficient, so I'm directly going to deal both statements together.
Both statements together:
We can determine the area of a triangle uniquely if we can somehow fix the positions of all the three vertices of the triangle. Once all three vertices are fixed, only one such triangle is possible and it will have an unique area.
Now, taking both statements together, we know (AB + BC + AC) = 15, BC = 7, and AB is making an angle of 70° with BC.
So, length of BC is fixed, i.e. positions of B and C are fixed.
We need to determine whether, position of A is fixed or not.

A must be lying on the ray extending from BC which makes an angle of 70° with BC.
Now, consider three example positions of A : A', A'', and A'''
Clearly, the more away A is from B, the more is the value of (AB + AC)
Now, (AB + AC) must be equal to 15 - 7 = 8
So, A must be having an unique position.
So, the triangle will have an unique area.
So, we can determine the area.
So, both statements together is sufficient.
Answer :
C
PS : Actual calculation for complete solution of this problem needs an extensive use of properties of triangle which is way beyond the scope of GMAT.