FRAME 9.
PERCENT CHANGE relates the amount of change between two time periods to the amount in
the first time period. For example, if personnel strength was 5,500 men this year and 5,000 men
last year, there was an increase of 500. Comparing the amount of change (500) to the amount in
the first time period (5000), would give us 500/5000 = 101 change. There was an increase of
101 in personnel this year over last year. In terms of a formula, it would be the following:
Period two amount - Period one amount X 100
Percent change =
Period one amount
= 5,500-5,000 X 100 = 500 X 100
5,000
5,000
= 0.10 X 100
Percent change = 10%
QUESTION:
If the price of an item was last year, what is the percent change if it costs this year?
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