AMC 8 1995 Problem 10

A jacket and a shirt originally sold for $80$ dollars and $40$ dollars, respectively. During a sale Chris bought the $80$ dollar jacket at a $40\%$ discount and the $40$ dollar shirt at a $55\%$ discount. The total amount saved was what percent of the total of the original prices? $\text{(A)}\ 45\% \text{(B)}\ 47\dfrac{1}{2}\% \text{(C)}\ 50\% \text{(D)}\ 79\dfrac{1}{6}\% \text{(E)}\ 95\%$.