Compute percent increase and percent decrease, and use a percent change to find a new amount.
Percent change compares how much something changed to what it started as: percent change = (change)/(original) x 100. If the amount went up, it is a percent INCREASE; if it went down, it is a percent DECREASE.
You can also work backwards: to find a new amount after a known percent change, multiply the original by (1 + the rate) for an increase, or by (1 - the rate) for a decrease. Both directions use the exact same idea, just aimed differently.
Mastery looks like: They correctly compute a percent increase or decrease, and use a given percent change to find a new amount in either direction.
Common stumbles: Dividing by the new amount instead of the original; forgetting to add 1 (or subtract from 1) when computing the multiplier for a new amount.