Answer
$(a) \frac{dy}{dt} = ky^2, y(0) = y_o, k>0$
$(b) \frac{dy}{dt} = -ky^2, y(0) = y_o, k>0$
Work Step by Step
$(a)$The sentence "increases at a rate that is proportional to the square of the amount present" is clearly $y^2$ with constant k
$\frac{dy}{dt} = ky^2, y(0) = y_o, k>0$
$(b)$ The sentence "decreases at a rate that is proportional to the square of the amount present" means $-y^2$ with constant k
$\frac{dy}{dt} = -ky^2, y(0) = y_o, k>0$