A corporation that had $10 billion in profits for the year paid out $500 million in employee benefits. Approximately what percent of the profits were the employee benefits? (Note: 1 billion = 10^9) Choose the correct option: A) 50 % B) 20 % C) 5 % D) 2 % E) 0.2 %

Rationale: "required answer = [ employee benefit / profit ] * 100 = [ ( 500 million ) / ( 10 billion ) ] * 100 = [ ( 500 * 10 ^ 6 ) / ( 10 * 10 ^ 9 ) ] * 100 = ( 50 / 1000 ) * 100 = 5 % so answer is ( c )"
Answer: C