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In 2019, Company A purchased a commercial building with 8 retail units for $4,200,000. In 2021, Company A decided to sell this building for $4,500,000. Interpret the change as a percentage. Round to the nearest hundredth.

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Ritmeks

The change as a percentage is 6.7 %

How to calculate the percentage change ?

The price of the building in the year 2021 is $4,200,00

The price of the building in 2021 is $4,500,000

Therefore the percentage change can be calculated as follows

= 4,500,000 - 4,200,000/4,500,000 × 100

= 300,000/4,500,000 × 100

= 0.066 × 100

= 6.7 %

Hence the percentage change is 6.7%

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