Final answer:
The percent decrease in price is 20% (option b).
Step-by-step explanation:
To find the percent decrease in price, we can use the formula:
Percent Decrease = (Original Price - Reduced Price) / Original Price * 100%
Let's plug in the values:
Original Price = $240
Reduced Price = $180
Percent Decrease = ($240 - $180) / $240 × 100% = 20%
Therefore, the percent decrease in price is 20%.