The correct answer is option (D):
statement (1) alone or statement (2) alone is sufficient to answer the question
Let S be the selling price of the house and C be the real estate agent's commission.
We are given that the commission is 10% of the selling price, so C = 0.10 * S.
Now let's analyze each statement.
Statement 1: The difference between the selling price and the real estate agent’s commission is $630,000.
This can be written as an equation: S - C = 630,000.
We know that C = 0.10 * S. Substituting this into the equation, we get:
S - 0.10 * S = 630,000
0.90 * S = 630,000
To find S, we can divide 630,000 by 0.90:
S = 630,000 / 0.90
S = 700,000
Since we can determine the selling price using Statement 1 alone, Statement 1 is sufficient.
Statement 2: The selling price is 350% of the original purchase price of $200,000.
This can be written as an equation: S = 350% of 200,000.
Converting 350% to a decimal, we get 3.50.
S = 3.50 * 200,000
S = 700,000
Since we can determine the selling price using Statement 2 alone, Statement 2 is sufficient.
Because both Statement 1 alone and Statement 2 alone are sufficient to answer the question, the correct option is that either statement (1) alone or statement (2) alone is sufficient.
The final answer is $\boxed{statement (1) alone or statement (2) alone is sufficient to answer the question}$.