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?  Answers.
A) 8% B) 15% C) 45% D) 52% E) 56%
First $20 million: royalties/sales ratio = 3/20 = 36/240   Next $108 million: royalties/sales ratio = 9/108 = 1/12 = 20/240   Answer: 45%
<result>C</result>
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?