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?\nOptions:\n(A) 8%\n(B) 15%\n(C) 45%\n(D) 52%\n(E) 56% Hmmm, my stream of consciousness:
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First $20 million: royalties/sales ratio = 3/20 = 36/240\nNext $108 million: royalties/sales ratio = 9/108 = 1/12 = 20/240 So, the answer is (C).
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