Step 1: Spot the halving:
The excess falls $80 \to 40$ in $20$ min, so the excess halves every $20$ min.
Step 2: Count halvings:
To reach $40$ C the excess must drop from $80$ to $20$, which is two halvings, so $2 \times 20 = 40$ min.
Final Answer:
The total time is $40$ minutes, option (B).
\[ \boxed{40} \]