@Samscaff
One hundred percent of 200 is 200.
Twice 200 is 400. That's not the same as 100 percent of 200.
It's an increase by virtue of the fact that we are adding over 100 percent of a quantity.
If you had 100 grapes, a portion of those grapes could only ever be less than 100 grapes, right?
The 25% is the increase.
200 x 1 = 200
25% of 200 is 50.
200 + 50 = 250. So a 25% increase of 200 is 250.
But we are not looking for an answer of 250.
We need an answer of 450.
We are looking for a percentage increase of 200 that fits 450. (200 + 225% is 450.)
The reason we're looking for 450 is because we needed to assign a numerical value (not a percentage) to the starting circulation. OP chose the starting number of papers sold to be 100 papers. It doesn't matter what starting number we use, because what matters is the percentage increases of whatever number we decide to start with.
Start of Year 1, the circulation is 100 papers
End of Year 1, the circulation is 200 papers, because it doubled from 100.
End of Year 2, the circulation is 600 papers, because it trebled from 200.
End of Year 3, the circulation fell by a quarter. That is, a quarter of 600.
600 minus one quarter is 450. (A quarter of 600 is 150. So 600 - 150 = 450.
The question asks by what percentage did the circulation increase from the end of Year One to the end of Year Three.
By assigning a numerical value to the starting circulation, 100 papers, we know that by the end of Year One the circulation is 200 papers and by the end of Year Three it's 450 papers.
When 200 papers increases to 450 papers, that's a 225% increase.