To calculate the percent decrease in the number of students, you can use the following formula:
\[ \text{Percent Decrease} = \left( \frac{\text{Original Value} - \text{New Value}}{\text{Original Value}} \right) \times 100 \]
In this case, the original value is 40 and the new value is 32.
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Calculate the decrease in the number of students: \[ \text{Decrease} = 40 - 32 = 8 \]
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Now plug the values into the formula: \[ \text{Percent Decrease} = \left( \frac{8}{40} \right) \times 100 \]
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Calculate the fraction: \[ \frac{8}{40} = 0.2 \]
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Now multiply by 100 to get the percentage: \[ 0.2 \times 100 = 20% \]
Therefore, the percent decrease in the number of students is 20%.
The answer is D: 20%.