We can use proportion B to calculate the percent decrease in the rent.
Proportion B states that the percent decrease is equal to the difference between the original and new values, divided by the original value, multiplied by 100.
In this case, the original monthly rent was $500 and the new monthly rent is $440. Substituting these values into the proportion, we get:
p = ((500 - 440) / 500) x 100
Simplifying, we get:
p = (60 / 500) x 100
p = 12
Therefore, the percent decrease in the rent is 12%. Answer B is correct.