We analyzed voltage characteristics of toner particle type display according to particle layers and cell gap between two electrodes and ascertained the aging effects by measuring the response time of particles with and without aging process. The threshold/driving/breakdown voltage is proportional to layers of toner particles and cell gap and the response time at driving voltage is faster than that of threshold and breakdown voltage because of different q/m of color and black particles. The analysis of response time is a method of estimation of optical characteristics, driving voltage and particle lumping and these results are promoted by aging process. We use the laser and photodiode to measure response time and optical properties. It has not been studied and reported to analyze the relationship of response time, threshold/driving/breakdown voltage, lumping phenomena, cell gap, and aging process for toner particle type display.