3.45% is the change from 116 to 120
Calculation steps:
[( 120 - 116 ) ÷ 116] x 100 = 3.45%
Formula
Percentage change = [(120 - 116) / 116] x 100
Subtract the new number by the original number
120 - 116 = 4
4 ÷ 116 = 0.034482758620689655
0.034482758620689655 x 100 = 3.45%