First, let me say that this is a HORRIBLY worded question. "How many of the 60 students..." isn't even gramatically correct ("the" doesn't make any sense without another reference, e.g. "how many of the 60 students in a class"). What's your source?
That issue aside, we can quickly solve using our old friend "# of equations vs # of unknowns".
As cited, here's our master formula:
Total # of objects = G1 + G2 + neither - both
From the original, we know that the total is 60. So, we have 1 equation and 4 unknowns. Therefore, barring special equations that eliminate multiple variables, we need 3 more equations.
1) gives us the value of G1. Just 1 more equation, insufficient.
2) gives us the value of G2. Just 1 more equation, insufficient.
Combined: We now have 3 equations and 4 unknowns. None of our equations get rid of multiple variables, therefore insufficient: choose (E) not enough information.
* * *
As an aside, an example of a "special" equation that eliminates more than one variable all in one shot is:
"A total of 30 students either wrote the math test or didn't write any test at all."
Translated, that would be:
G1 + Neither = 30
and would eliminate both of those variables from our master equation.
* * *
Remember, we should NEVER make assumptions in data sufficiency, so unless the question specifically tells us that everyone in the class writes at least one of the two tests, we don't know that to be the case.