GregMat GRE Practice Test Percent Change Question

I just took the practice GRE 1 on the website, and when reviewing, I got a question wrong that I was pretty confident on. I attached the question as well as the formula I grew up learning and found on google as well, which doesn’t seem to work, and the solution used a different formula which confused me a bit.

I did the currency conversion as the solution did, it seems like the very end of the problem is where my answer and the correct answer deviated because of the formula. When using the formula in the screenshot, you end up with 11.7% less. So confused why that formula wouldn’t work here when it’s a percent change question


What is x_1 and x_2 in this problem?

X1 = 5,000,000/14925 = 335.01 the old conversion rate

X2 = 374.16 — the new conversion rate

You’ve mixed the two up. The question setting is in 2023 - so the 2023 is the old rate and 2022 new - not vice-versa.