a Depending on if a percentage change is a decrease or an increase, the multiplier will be less than or greater than 1, respectively. But first, we need to convert the percentage change into a number.
Convert to number
Percent and
1001 are interchangeable. With this information, we can convert the percentage change of
3 to a number.
3%=3⋅1001=0.03
Convert to multiplier
When the percentage change is an increase, you
add the percentage change to
1 to get the corresponding multiplier.
1+0.03=1.03