-12.5% is the change from 232 to 203
Calculation steps:
[( 203 - 232 ) ÷ 232] x 100 = -12.5%
Formula
Percentage change = [(203 - 232) / 232] x 100
Subtract the new number by the original number
203 - 232 = -29
-29 ÷ 232 = -0.125
-0.125 x 100 = -12.5%