Question

What is decrease £700 by 32%

Answer 1

32% of £700 is £224 so £700 - £224 = £476

Answer 2

100% of anything means the whole thing.
If you decrease it 32%, then you have (100-32) = 68% of it left.

68% means 0.68
"of" means "times"

68% of £700 (the part that you have left) =

(0.68) x (£700) = £476.00