Question

In 1981, about $1.1 million was lost due to fires. In 1988, the loss was about $ 9 . 6 million.

What is the percent change and how? ...?

Answer 1

Amount that was lost in the year 1981 due to fires = $1.1 million
Amount that was lost in the year 1988 due to fires = $9.6 million
Then
Change in the amount of loss between the two years = 9.6 - 1.1
= 8.5 million
Percentage change in the amount
of loss between the two years = (8.5/1.1) * 100
= 772.73 percent.
I hope that the procedure is clear enough for you to understand.