<p>Okay I have a question about a type of problem. It is probably VERY easy to you guys but I forgot how to do it.</p>
<p>Anyways, I see a lot of problems that go like this: If the price of a stock goes from 96 to 112, what is the percent change?</p>
<p>Or the price of a pair of shoes goes from $75 to $40, what is the percent change? </p>
<p>How do you find it? I think there is a simple formula but I don't want to look through all my prep books. Thanks!</p>
<p>for the stock example:
112/96-1= percentage change</p>
<p>40/75-1= percentage change</p>
<p>new price/old price-1= percentage change</p>
<p>Okay thanks so the formula is:</p>
<p>(new amount)/(original-1)= % change</p>
<p>Can someone verify that for me please?</p>
<p>Yes, Megaman123's method is right. Only you do realize that the answer is in decimal and needs to be multiplied by 100 to become percentage, right? =)</p>
<p>Yeah. :) Thanks.</p>
<p>wOAH.... u interpreted what he said wrong....</p>
<p>you said "(new amount)/(original-1)= % change"</p>
<p>it should be "[(new amount)/(original)] - 1= % change
(112/96) - 1
(7/6) - 1
1/6 x 100
16.67%</p>
<p>shouldn't it be { change in amount/ original} x 100????????</p>
<p>It's the same thing, stuck.</p>
<p>newamount/original - 1 =
newamount/original - original/original =
(newamount - original)/original=
change in amount/original</p>
<p>oh, i didn't look at it that way.</p>