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A pharmaceutical company received $3 million in royalties on

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Manager
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A pharmaceutical company received $3 million in royalties on [#permalink] New post 10 May 2008, 22:34
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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%
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Re: pharmaceutical company [#permalink] New post 10 May 2008, 23:26
C

3/20 --> 9/60

9/108 ---> 5/60

5 is about 45% less than 9
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Re: pharmaceutical company [#permalink] New post 11 May 2008, 04:13
first royalty ratio = 3/20 = 9/60
second ratio = 9/108 = 1/12 = 5/60

decrease in ratio = (9-5)/9*100 = 44.44%
Re: pharmaceutical company   [#permalink] 11 May 2008, 04:13
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A pharmaceutical company received $3 million in royalties on

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