1. Identify the old value (96) and the new value (93).
2. Substitute the values into the formula:
\text{Percentage Change} = \left( \frac{93 - 96}{96} \right) \times 100
3. Calculate the difference between 93 and 96:
93 - 96 = -3
4. Divide this difference by the old value (96):
\frac{-3}{96} \approx -0.03125
5. Multiply by 100 to convert to a percentage:
-0.03125 \times 100 = -3.125
6. Interpret the result as a percentage decrease of approximately:
-3.125\%