When performing a scientific experiment that results in quantities of some sort, such as mass in chemistry or momentum in physics, the percent error is often computed. Percent error, \(\% E\), is the percent by which the value obtained in an experiment, the observed value \(O\), is different than the value that was expected, the expected value \(E\), in the experiment. The formula is below.

\(\% E=\frac{|O-E|}{E}\)

Jim and Kelly are working on a chemistry experiment and expect the result to be 50 grams. However, their result was 48.7 grams. Find Jim and Kelly's percent error.