It is 12.5%.
15 divided by 120 is 0.125, and in order to make it a percentage, multiply by 100% or move the decimal two places to the right.
Another way is to think about it and break it down. 60 is 50% of 120, and 15 is 25% of 60.
Since 15 is 25% of 60, which in turn in 50% of 120, 15 is 12.5%.
I'm 1,000% sure it's correct.