The 200 shares of General Mills stock bought at $384.38 were sold at $350. Commission is omitted. What would be the loss?
I'm really confused here. I thought I would subtract the two numbers featured above to get the loss. Is there a specific formula I have to use? If so-what is it?
Thanks!
Yes, subtract to find the dollar loss.
Do you need to find the percentage loss?
Yes-Sorry for the long delay!
I assume I would multiply my answer by 100-but I'm not sure.
384.38 - 350 = $34.38 >> dollar loss
100 (34.38 / 384.38) = 8.9% loss
Thank you so much!
I'll be sure to write down the formula for the future!
To calculate the loss from selling the shares, you need to find the difference between the selling price and the buying price. In this case, the buying price is $384.38 per share, and the selling price is $350 per share.
To calculate the loss per share, subtract the selling price from the buying price:
Loss per share = Buying price - Selling price
Loss per share = $384.38 - $350 = $34.38
Now, to calculate the total loss, multiply the loss per share by the number of shares sold:
Total loss = Loss per share x Number of shares
Total loss = $34.38 x 200 = $6,876
Therefore, the loss from selling the 200 shares of General Mills stock would be $6,876.
Note: This calculation does not account for any commission or fees involved in the transaction.