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The first step in calculating the percentage change is calculating the actual change. The actual change is the difference between the new value and the old value.
The formula to calculate the actual change is:
Actual Change = New Value – Old Value
Given values:
Old Value (Original Quantity) = 120
New Value (New Quantity) = 150
Actual Change = 150 – 120
Actual Change = 30
The next step is to calculate the percentage change. The percentage change is the actual change divided by the old value, multiplied by 100 to express it as a percentage.
The formula to calculate the percentage change is:
Percentage Change = (Actual Change / Old Value) * 100
Substitute the calculated actual change and the given old value into the formula:
Percentage Change = (30 / 120) * 100
First, perform the division:
30 / 120 = 0.25
Now, multiply by 100:
Percentage Change = 0.25 * 100
Percentage Change = 25%
Since the new value (150) is greater than the old value (120), this is a percentage increase.
The final answer is $\boxed{25\%}$
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