A store increased the original price of a shirt by a certain percent and then lowered the new price by the same amount. Given that the resulting price was $84\%$ of the original price, by what percent was the price increased and decreased$?$
$\textbf{(A) }16\qquad\textbf{(B) }20\qquad\textbf{(C) }28\qquad\textbf{(D) }36\qquad\textbf{(E) }40$
Suppose the fraction of discount is $x$. That means $(1-x)(1+x)=0.84$; so, $1-x^{2}=0.84$, and $(x^{2})=0.16$, obtaining $x=0.4$. Therefore, the price was increased and decreased by $40$%, or $\boxed{\textbf{(E)}\ 40}$.