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percent change = (new number - old number)/(old number) * 100

If the percent change is positive, it is a percent increase.
If the percent change is negative, it is a percent decrease.

In our case, the number goes from 500000 (the old number) to 60000 (the new number).

percent change = (new number - old number)/(old number) * 100

percent change = (60000 - 500000)/(500000) * 100

percent change = -88%

Answer: the percent decrease is 88%
A change from 500000 to 60000 speaks to a negative change (diminish) of - 88% 

Percent change = [(500000 - 60000)/500000] x 100 = - 88 % (expansion) 

Where: 500000 is the old and 60000 is the new. For this situation, we have a negative change (diminish) of - 88 percent on the grounds that the new is more prominent than the old.

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