sure, you can create complex combinational and/or sequential logic or you can use a 256 x 8 memory. EPROMs are pretty cheap and easy to use. your input is the two 4 bit BCD values as the address and the value at that location is the result. just fill out the 256 entry array with the values you want. The performance is basically the cost of one EPROM access.
hope your teacher appreciates the help you are getting here.