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Chapter 21 Test - Question 4

The 100 shares of Delta Air Lines, Incorporated stock bought at [tex]$57.97 were sold at $[/tex]54. Commission is omitted. What would be the loss?

Note: Input the amount as a positive value.

Loss: ________



Answer :

GinnyAnswer
Certainly! Let's walk through the steps to determine the loss on the 100 shares of Delta Air Lines, Incorporated stock.

### Step-by-Step Solution:

1. Determine the number of shares bought:
- The problem states 100 shares were bought.

2. Identify the buying price per share:
- The shares were bought at [tex]$57.97 each. 3. Identify the selling price per share: - The shares were sold at $[/tex]54 each.

4. Calculate the loss per share:
- To find the loss per share, subtract the selling price from the buying price.
[tex]\[ \text{Loss per share} = \text{Buy price} - \text{Sell price} \][/tex]
Plugging in the values:
[tex]\[ \text{Loss per share} = \$57.97 - \$54 = \$3.97 \][/tex]

5. Calculate the total loss:
- To find the total loss, multiply the loss per share by the number of shares.
[tex]\[ \text{Total loss} = \text{Loss per share} \times \text{Number of shares} \][/tex]
Plugging in the values:
[tex]\[ \text{Total loss} = \$3.97 \times 100 = \$397 \][/tex]

### Conclusion:
- Loss per share: [tex]$3.97 - Total loss: $[/tex]397

So, the total loss for selling 100 shares at [tex]$54 each, which were initially bought at $[/tex]57.97 each, is $397.

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