# Simple question on interpretation of elasticity

I am doing a multivariable calculus course and found elasticity interesting. The formula for percentage change with elasticity is

$$\LARGE\frac{\frac{\Delta y}{y}\large\cdot100}{\frac{\Delta x}{x}\large\cdot100}$$

This is fairly simple but I just want to assure that my interpretation is correct. Suppose for a given geographical area and time period that $$y$$ is number of crimes, with $$y_2=1500$$ and $$y_1=1000$$ and $$x$$ is economic inequality measured on a percentage scale, with $$x_2=35$$ and $$x_1=30$$. We get

$$\LARGE\frac{\frac{500}{1000}\large\cdot100}{\frac{5}{30}\large\cdot100}\normalsize=3.12$$

As I understand, the result is interpreted as a percentage change of $$3.12 \%$$ in number of crimes ($$y$$) with $$1 \%$$ change in economic inequality ($$x$$).

Perhaps a better example would use the number changes of two variables, opposed to involving number and percentage point changes. I would be happy for corrections if I am misinterpreting something.