John and Mike had equal amount of money in savings at the beginning of last year. Then, Mike’s savings increased by 20% by the end of last year and decreased by 20% this year. John’s savings at first decreased by 20% by the end of last year and then increased by 20% this year. What percentage of John’s and Mike’s savings combined are John’s savings alone?
Correct answer: C
Explanation
For John ----> 100 * 0.8 * 1.2 ----> 96 $ (as there was a 20% decrease followed by a 20% increase)
For Mike ---> 100*1.2*0.8 ----> 96$ (as there was a 20% increase followed by a 20% decrease)
Thus % of John's savings = 96 / (96+96) = 50%. Thus, C is the correct answer
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AQuA-RAT items are crowdsourced algebra problems, not ACT questions. They carry five answer choices in the pre-2025 ACT Mathematics style and no ACT reporting category. Useful for drilling Preparing for Higher Math content; not a substitute for a real form.