The percentage decrease is 85% of 480, which is computed as follows:
[tex]480\cdot\frac{85}{100}=408[/tex]The new amount is obtained by subtracting this decrease to the original value, as follows:
[tex]\begin{gathered} \text{ new amount = original amount - percentage decrease} \\ \text{ new amount = 480 - 408} \\ \text{ new amount = 72} \end{gathered}[/tex]
