PROBABILITY OF BOTH BEING OVER 65:
(0.12) × (0.12) gives 0.0144.
PROBABILITY OF NEITHER BEING OVER 65:
(1 − 0.12) × (1 − 0.12) gives (0.88)2 or 0.7744.
PROBABILITY OF AT LEAST ONE BEING OVER 65:
(0.12)(0.88) + (0.88)(0.12) + (0.12)(0.12) gives 0.2256.
[In other words, simply take 1 − (0.7744 found above)
which again gives 0.2256.]
Note also that either nobody is over 65 or at least one person is over 65.
In accordance, the corresponding probabilities 0.7744 and 0.2256
found above sum to 1 which is the highest probability possible
(meaning there is "absolute certainty" that either nobody is over 65 or
at least one person is over 65).