Question

Suppose that gold is selling at $375/ounce. how many milligrams of gold could you buy for one cent?(16 oz-1 lb;1 lb=454 g)

I need you guys to show all work on conversions please....

Answer 1

1 oz = 28.35 grams which is 28.35 * 1000 = 28,350 milligrams, cost $37500 cents)
:
28350/37500= .756 milligrams for 1 cent

Answer 2

0.756 mg gold

Step-by-step explanation:

Data provided in the question:

Cost of gold = $375/ounce

also,

16 oz = 1 lb and 1 lb = 454 g

thus,

1 oz =
`(1)/(16)lb`

also,

`(1)/(16)lb` =
`(1)/(16)*454\ g` = 28.375 g

therefore,

now,

1 g = 1000 mg

therefore,

28.375 g = 28375 mg

and,

$1 = 100 cents

therefore,

$375 = 37500 cents

thus,

cost of 28375 mg gold = 37500 cents

or

37500 cents buys 28375 mg gold

or

1 cent buys
`(28375)/(37500)` mg gold

or

1 cent buys 0.756 mg gold