-7.5% is the change from 120 to 111
Calculation steps:
[( 111 - 120 ) ÷ 120] x 100 = -7.5%
Formula
Percentage change = [(111 - 120) / 120] x 100
Subtract the new number by the original number
111 - 120 = -9
-9 ÷ 120 = -0.075
-0.075 x 100 = -7.5%
Example