1. **State the problem:** We have a cellphone originally priced at ₱3000, now sold at ₱1800. We want to find the percent of change and specify if it is an increase or a decrease. 2. **Calculate the change in price:** Change = New Price - Original Price = 1800 - 3000 = -1200 3. **Determine if it is an increase or decrease:** Since the change is negative (-1200), it is a decrease. 4. **Calculate the percent of decrease:** Percent Change = \(\frac{|\text{Change}|}{\text{Original Price}} \times 100\% = \frac{1200}{3000} \times 100\% = 40\%\) 5. **Conclusion:** The price has decreased by 40%.