$ 40 ..... 100 %
$ 28 ..... x %
[tex]x = \frac{28 \cdot 100}{40} = 70[/tex]
The % of change is 70 %.
This is equivalent with:
- the final price ($ 28) is 70 % from the initial price ($ 40)
- the initial price ($ 40) was reduced with 30% giving the new price as:
[tex]40 - 40 \cdot \frac{30}{100} = 28[/tex]
