In 1998 the profits of company N were 10 percent of revenues. In 1999, the revenues of company N fell by 20 percent, but profits were 12 percent of revenues. The profits in 1999 were what percent of the profits in 1998? Choose the correct choice:  A) 80%  B) 105%  C) 96%  D) 124.2%  E) 138%
0,096R = x/100*0.1R   Answer 96%
<result>C</result>
In 1998 the profits of company N were 10 percent of revenues. In 1999, the revenues of company N fell by 20 percent, but profits were 12 percent of revenues. The profits in 1999 were what percent of the profits in 1998?