-33.9% is the change from 118 to 78
Calculation steps:
[( 78 - 118 ) ÷ 118] x 100 = -33.9%
Formula
Percentage change = [(78 - 118) / 118] x 100
Subtract the new number by the original number
78 - 118 = -40
-40 ÷ 118 = -0.3389830508474576
-0.3389830508474576 x 100 = -33.9%