The ratio of mikes savings to nicks savings was 4: 3 after mike saved another $120 and nick saved another $60 the ratio became 8: 5 what was their combined savings before each of them saved additional money

Mike's savings before he saved additional money = $120

Nick's savings before he saved additional money = $90

Step-by-step explanation:

The ratio of mikes savings to nicks savings was 4:3.

Let their savings be 4k and 3k.

After mike saved another $120 and nick saved another $60, their savings become 4K+120 and 3k+60.

It is given that the new ratio is 8:5.

Therefore,

4k+120 : 3k+60 = 8:5

5(4k+120) = 8(3k+60)

20k+600 = 24k+480

20k-24k = 480-600

-4k = -120

k = 30

So, Mike's savings before he saved additional money = 4k = 4(30) = $120

Nick's savings before he saved additional money = 3k = 3(30) = $90