4.24% is the change from 118 to 123
Calculation steps:
[( 123 - 118 ) ÷ 118] x 100 = 4.24%
Formula
Percentage change = [(123 - 118) / 118] x 100
Subtract the new number by the original number
123 - 118 = 5
5 ÷ 118 = 0.0423728813559322
0.0423728813559322 x 100 = 4.24%