Higher June 2019 Paper 6 Q10

OCRHigherCurrent spec6 marksPercentages

10 In 2017, the value of a house increased by 4%.
In 2018, the value of the house then decreased by 3%.

Teresa says

Over the two years the value of the house increased by exactly 1% because 4 – 3 = 1.

Show that Teresa is wrong. [6]