To calculate the percent decrease, we first need to determine the amount of decrease and then find out what percentage that decrease is of the original amount.
1. **Calculate the decrease**: Start by subtracting the final amount from the initial amount.
Decrease = Initial Amount – Final Amount
Decrease = $300 – $60 = $240
2. **Calculate the percent decrease**: Divide the decrease by the initial amount and then multiply by 100 to get the percentage.
Percent Decrease = (Decrease / Initial Amount) × 100
Percent Decrease = ($240 / $300) × 100 = 80%
So, the percent decrease when the balance in the bank account goes from $300 to $60 is 80%.