-3.1% is the change from 516 to 500
Calculation steps:
[( 500 - 516 ) ÷ 516] x 100 = -3.1%
Formula
Percentage change = [(500 - 516) / 516] x 100
Subtract the new number by the original number
500 - 516 = -16
-16 ÷ 516 = -0.031007751937984496
-0.031007751937984496 x 100 = -3.1%