Questions: To compute the percent change, first determine the difference between the amount in the latest period and the amount in the previous period, then divide this difference by the amount in the previous period.

Solution Steps

To compute the percent change, you need to follow these steps:

1. Calculate the difference between the amount in the latest period and the amount in the previous period.
2. Divide this difference by the amount in the previous period.
3. Multiply the result by 100 to convert it to a percentage.

To find the percent change, first calculate the difference between the latest amount and the previous amount. Given:

• Latest amount = 120
• Previous amount = 100

The difference is: \[ \text{Difference} = 120 - 100 = 20 \]

Next, divide the difference by the previous amount to find the change relative to the previous amount: \[ \text{Relative Change} = \frac{20}{100} = 0.2 \]

Finally, convert the relative change to a percentage by multiplying by 100: \[ \text{Percent Change} = 0.2 \times 100 = 20\% \]

Final Answer