Suppose that gold is selling at $475/ounce. how many milligrams of gold could you buy for 100 dollars?(16 oz-1 lb;1 lb=454 g4

Question

asked May 26, 2021 197k views

1 Answer

Pinko · Answer 1 · 2021-06-01T20:29:06+0000

Given :

Gold is selling at $475/ounce.

To Find :

How many milligrams of gold could you buy for 100 dollars.

16 oz= 1 lb

1 lb = 454 gm

Solution :

Price per mg is :

$P=(475)/((1)/(16)\ lb)\\\\\\P=(475)/((1)/(6)* 454* 1000\ mg)\\\\\\P=\$0.00627 /mg$

So, milligrams of gold could you buy for 100 dollars is :

$Q=(100)/(0.00627)\ mg\\\\Q=15948.96\ mg$

Hence, this is the required solution.