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Let $D$ equal the depth of storm that has a 1% chance of being equaled or exceeded every year (a storm with a 100 year return interval).

Let $n$ equal an integer larger than 1.

What is the probability of there being $n$ storms of $D$ or more depth in one specific year?

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    There is no sensible way to answer this question. It could be that there is only one storm each year with some probability distribution in depth that has $1 \%$ chance of exceeding $D$. There would never be more than one storm of depth $D$ or more. It could be that there are $10,000$ storms per year, all of exactly the same size, so there is a $1\%$ chance there are $10,000$ storms of depth $D$ or more. My mindreading cells are on vacation, so I can't imagine what assumption you are supposed to make for this. – 2017-01-10
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    I think this is an example of calculating the probability of two or more independent events occurring. So if the probability of a D storm is 1% then the probability of two D storms occurring would be 0.01 x 0.01 or 0.0001. The probability of three D storms occurring would be 0.01 x 0.01 x 0.01 or 0.000001. – 2017-01-10
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    But they said the chance of having any single storm of depth $D$ was $1\%$, not the chance that each storm is of depth $D$ is something. I suppose you could say there are lots of storms, each with a small chance of exceeding $D$, and model it as a Poisson distribution with mean selected so the chance of $1$ or more is $0.01$ – 2017-01-10

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