Step 1: Find the stress in both the wires.
Consider the diagram where a deforming force $F$ is applied to the combination.
    
For steel wire, $Y_\text{steel} = \frac{\text{Stress}}{\text{Strain}} = \frac{\frac{F}{A}}{\text{strain}_\text{steel}}$
For copper wire, $Y_\text{copper} = \frac{\text{Stress}}{\text{Strain}} = \frac{\frac{F}{A}}{\text{strain}_\text{copper}}$
where $F$ is tension in each wire and $A$ is the cross-section area of each wire.
As $F$ and $A$ are the same for both the wires,
Therefore, stress will be the same for both the wires.

Step 2: Find the strain in the two wires.
The strain in the wire is given by; 
Strain = $\frac{\text{Stress}}{Y}$
$\Rightarrow \text{Strain}_\text{steel} = \frac{\text{Stress}}{Y_\text{steel}}$
$\Rightarrow \text{Strain}_\text{copper} = \frac{\text{Stress}}{Y_\text{copper}}$
As $Y_\text{steel}\ne Y_\text{copper}$
Therefore, the two wires will have different strains.
Hence, option (2) is the correct answer.