Answer:
To calculate the percentage change, we need to find the difference between the new price and the old price, and divide it by the old price, then multiply by 100 to express the result as a percentage.
So, the difference is £99 - £70 = £29.
And the percentage change is ( £29 / £70) * 100 = 41.43%.
Rounding to 2 decimal places, the percentage change is 41.43% = 41.43.
Explanation:
Percentage change is a way of measuring the difference between an initial value and a new value as a percentage of the initial value. To calculate the percentage change, we use the formula:
Percentage change = (New value - Initial value) / Initial value * 100
In this case, the initial value is £70 and the new value is £99. Plugging these values into the formula:
Percentage change = (99 - 70) / 70 * 100 = 41.43%
Rounding this answer to 2 decimal places:
Percentage change = 41.43% = 41.43
So, when the price increases from £70 to £99, the percentage change is 41.43% (to 2 decimal places).