Problem

Source: 2018 Pan-African Mathematics Olympiad

Tags: inequalities, algebra, AMGM



Let $a$, $b$, $c$ and $d$ be non-zero pairwise different real numbers such that $$ \frac{a}{b} + \frac{b}{c} + \frac{c}{d} + \frac{d}{a} = 4 \text{ and } ac = bd. $$ Show that $$ \frac{a}{c} + \frac{b}{d} + \frac{c}{a} + \frac{d}{b} \leq -12 $$and that $-12$ is the maximum.