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A pharmaceutical company received $3 million in royalties on

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A pharmaceutical company received $3 million in royalties on [#permalink] New post 20 Aug 2006, 20:18
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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%
Answer:
Senior Manager
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Joined: 19 Jul 2006
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 [#permalink] New post 20 Aug 2006, 23:30
C

3/20=0.15

9/108=.0833

Req. % = (0.15 -0.0833)/0.15 = ~ 45%
  [#permalink] 20 Aug 2006, 23:30
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A pharmaceutical company received $3 million in royalties on

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