To calculate a change in something, you subtract. Example: going from 7 to 3 is a drop of 4 since 7-3 = 4. So we say "change of 4".
The percent change of going from 7 to 3 is a drop of 4/7 = 0.5714 = 57.14% approximately. If you had 7 dollars, and you lost 57.14% of those 7 dollars, then you'd have 3 dollars roughly.
Note how taking 57.14% of 7 yields us: 0.5714*7 = 3.9998 and which is fairly close to the result of 4 we got earlier.
-----------------------
So what I did with that example was
step 1) subtract the two values: 7-3 = 4
step 2) divide the result of step 1 over the starting value 7 to get 4/7 = 57.14%
------------------------
In general, the formula is
where,
A = starting value
B = final value
C = percent change
If the value of C is positive, then you have a percent increase. If C is negative, then you have a percent decrease.
Put another way: if A > B, then theres a percent decrease. If A < B, then we have a percent increase.
The "100" tacked on at the end is to convert from decimal form to percent form. Eg: 0.37 converts to 37% after multiplying by 100
Answer:
See below.
Step-by-step explanation:
The following example will illustrate the method:
Suppose the cost of a car was $10,000 and it increased to $10,500 the following year. Calculate the percent increase in the cost,
The percent increase is based on the original price 10,000 so it is
(the difference in cost / original cost) * 100
= [(10,500 - 10,000) / 10,000] * 100
= (500/ 10,000) * 100
= 0.05 * 100
= 5 %.
