-48.05% is the change from 77 to 40
Calculation steps:
[( 40 - 77 ) ÷ 77] x 100 = -48.05%
Formula
Percentage change = [(40 - 77) / 77] x 100
Subtract the new number by the original number
40 - 77 = -37
-37 ÷ 77 = -0.4805194805194805
-0.4805194805194805 x 100 = -48.05%