Question

Gold is mined at Cortez Gold Mine in Nevada. For every ton of raw material dug out of the ground, you get one ounce of gold. Each truck hauls 394 tons, and each day, there are 1000 trucks that haul material out of the ground. Assuming the current price of gold to be $1,607 per ounce. How much money is made each day at Cortez Gold Mine

Answer 1

`\$633158000`

Explanation:

`1\ \text{ton of raw material}=1\ \text{ounce of gold}`

1 truck hauls 394 ton of raw material

`1\ \text{truck}=394\ \text{ton of raw material}=394\ \text{ounce of gold}`

There are 1000 trucks so

`1000\ \text{trucks}=394* 1000=394000\ \text{ounce of gold}`

1 ounce of gold cost $1607

`394000\ \text{ounce of gold}=394000* 1607=\$633158000`

The amount of money made each day at Cortez Gold Mine is
`\$633158000`.