[tex]\begin{gathered} \text{The amount of decrease was;} \\ Decrease=\text{New price-Old price} \\ \text{Decrease}=1200-1600 \\ \text{Decrease}=-400 \\ \text{The amount of decrease was \$400} \\ \text{Percentage decrease=}\frac{decrease}{old\text{ price}}\times100 \\ \text{Percentage decrease=}\frac{400}{1600}\times100 \\ \text{Percentage decrease=}\frac{1}{4}\times100 \\ \text{Percentage decrease = 25} \end{gathered}[/tex]
Therefore the amount of decrease was $400 and the percentage of decrease was 25%
