Sometimes we need to work out percentage changes. This helps us work out a percentage profit, or in the case of our friend here a percentage loss.

This is one of the annoying areas where we have to learn a formula. Obviously our friend here didn't learn it. So here goes.

Percentage change = __actual change__ x 100

original amount

You have put £2500 in the bank 3 years ago. Now it is worth £2850. Lucky you.

Using the formula, how can you work out the percentage change?

First find the actual change £2850 - £2500 = 350 Now substitute this into your formula.

Percentage change = __actual change__ = __£350__ x 100 = 14% change

original amount = £2500

Basically that is all there is to it. You just need to learn the formula. At least you made a profit.

Don't worry you will have plenty of practice using this.

I bet Lord Sugar knows this formula..