One form of an exponential function that can be used to model either growth or decay is
f(t) = A0·bt where A0 represents the initial amount and b is the base of the exponential function. When b > 1, this models exponential growth, when 0 < b < 1 it will model decay. For growth, the greater b is, the faster the growth; for decay, the closer b is to 0, the faster the decay.
Using this form of the exponential function, we have f(t) = 250·bt and we can use the given point (250, 30) to solve for b:
30 = 250·b250
.12 = b250
b = 250√.12 ≈ .99155 so f(t) = 250·.99155t
We can find the half-life by finding the time it takes until 125g of the substance remains:
125 = 250·.99155t
.5 = .99155t
ln(.5) = t·ln(.99155)
t ≈ 82 minutes (We can ballpark to see that this answer makes good sense: 250 minutes would represent just a little over 3 1/2 lives elapsed, which would mean the amount has halved 3 times, and about 1/8 of the initial amount would remain. 30 g is a little less than 1/8 of the original 250g.)
Btw, since we now have the length of the 1/2 life, an alternate form of the exponential function would be
f(t) = 250 · (1/2)t/82
You can check to see that plugging in 250 for t in this equation also gives f(250) ≈ 30.