Yeats Corporation's sales in Year 1 were $396,000 and in Year 2 were $380,000.Using Year 1 as the base year,the percent change for Year 2 compared to the base year is:
A)−104%
B)100%
C)−4.0
D)96%
E)4.2%

Question

Quizplus · Accepted Answer

Using the formula for percent change:

percent change = (new value - old value) / old value x 100%

percent change = ($380,000 - $396,000) / $396,000 x 100%

percent change = -$16,000 / $396,000 x 100%

percent change = -0.0404 x 100%

percent change = -4.04%

Therefore, the percent change for Year 2 compared to the base year is -4.0%.

Yeats Corporation's Sales in Year 1 Were $396,000 and in Year