Final answer:
The percent decrease is 10%.
Step-by-step explanation:
To find the percent decrease, we use the formula:
% Decrease = ((Original Price - New Price) / Original Price) x 100%
Using the given information, the original price was $800 and the new price is $720.
Plugging these values into the formula:
% Decrease = (($800 - $720) / $800) x 100% = (80/800) x 100% = (1/10) x 100% = 10%
Therefore, the percent decrease is 10%.
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