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# A pharmaceutical company received \$3 million in royalties on

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Intern
Joined: 08 May 2006
Posts: 19

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20 Aug 2006, 21:18
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100% (02:17) correct 0% (00:00) wrong based on 1 sessions

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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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Senior Manager
Joined: 19 Jul 2006
Posts: 358

Kudos [?]: 9 [0], given: 0

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21 Aug 2006, 00:30
C

3/20=0.15

9/108=.0833

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

Kudos [?]: 9 [0], given: 0

21 Aug 2006, 00:30
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