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?  Choose the correct choice from the following answers:
A) 25%
B) 40%
C) 50%
D) 75%
E) 96%
For John ----&gt; 100 * 0.8 * 1.2 ----&gt; 96 $ (as there was a 20% decrease followed by a 20% increase)   For Mike ---&gt; 100*1.2*0.8 ----&gt; 96$ (as there was a 20% increase followed by a 20% decrease)   Thus % of John's savings = 96 / (96+96) = 50%. Thus, 50% is the correct answer
<result>C</result>
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?