What is the percent of decrease from 500000 to 60000

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%

the percent decrease is 88%