Asked by Shannon

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!

Answers

Answered by Ms. Sue
Yes, subtract to find the dollar loss.

Do you need to find the percentage loss?

Answered by Shannon
Yes-Sorry for the long delay!
I assume I would multiply my answer by 100-but I'm not sure.
Answered by Ms. Sue
384.38 - 350 = $34.38 >> dollar loss

100 (34.38 / 384.38) = 8.9% loss


Answered by Shannon
Thank you so much!
I'll be sure to write down the formula for the future!
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