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# A pharmaceutical company received $3 million in royalties on  Question banks Downloads My Bookmarks Reviews Important topics Author Message TAGS: Intern Joined: 08 May 2006 Posts: 19 Followers: 0 Kudos [?]: 0 [0], given: 0 A pharmaceutical company received$3 million in royalties on [#permalink]  20 Aug 2006, 20:18
00:00

Difficulty:

(N/A)

Question Stats:

100% (03:17) correct 0% (00:00) wrong based on 1 sessions
A pharmaceutical company received $3 million in royalties on the first$20 million in
sales of the generic equivalent of one of its products and then $9 million in royalties on the next$108 million in sales. By approximately what percent did the ratio of royalties
to sales decrease from the first $20 million in sales to the next$108 million in sales?
A. 8%
B. 15%
C. 45%
D. 52%
E. 56%
Senior Manager
Joined: 19 Jul 2006
Posts: 361
Followers: 1

Kudos [?]: 3 [0], given: 0

C

3/20=0.15

9/108=.0833

Req. % = (0.15 -0.0833)/0.15 = ~ 45%
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