Concept:
Total modulation index for multiple signals:
\[
m = \sqrt{m_1^2 + m_2^2}
\]
Step 1: Identify indices
\[
m_1 = 0.4,\quad m_2 = 0.3
\]
Step 2: Apply formula
\[
m = \sqrt{(0.4)^2 + (0.3)^2}
\]
Step 3: Calculate squares
\[
m = \sqrt{0.16 + 0.09}
\]
Step 4: Simplify
\[
m = \sqrt{0.25} = 0.5
\]
Step 5: Conclusion
\[
\boxed{0.5}
\]
Final Answer:
\[
\boxed{(B)}
\]