In order to solve this problem, we must find the rate at which the number of minutes it takes for Mark to run 1 mile.
We can set up a proportion.
If

, then

, where x is equal to the number of minutes it takes to run one mile.
Cross multiply, and we get:
2x=16
x=8, so we know it takes 8 minutes for Mark to run one mile.
We can set up another proportion.

, where y is the number of minutes it takes to run 5 miles.
Cross multiply and we get:
y=40
It takes 40 minutes for Mark to run 5 miles, or answer choice C.