How much is that gold worth? 65 grams @ $1100 an ounce? 1 pound = 16 ounces = 453.6 grams $1100/16 = $68.75 16+ 453.6 = $7,257.60 (65/453.6)=0.431100 = $473 (6516*1100)/453.6 = $2522.04
The Correct Answer and Explanation is :
To find the correct value of 65 grams of gold when the price is $1100 per ounce, we can go through the following steps:
Step-by-Step Calculation:
- Convert grams to ounces:
- 1 ounce is equal to 31.1035 grams.
- To find how many ounces 65 grams is, we use the conversion factor:
[
65 \text{ grams} \times \left( \frac{1 \text{ ounce}}{31.1035 \text{ grams}} \right) = 2.09 \text{ ounces}
]
So, 65 grams is approximately 2.09 ounces of gold.
- Calculate the value of 65 grams of gold:
- Since the price of gold is $1100 per ounce, we multiply the number of ounces by the price:
[
2.09 \text{ ounces} \times 1100 \text{ dollars/ounce} = 2299 \text{ dollars}
]
So, 65 grams of gold is worth $2299.
Explanation of Your Original Approach:
The approach you presented involves several conversions and approximations that lead to slightly different results. For example, you tried to use the conversion for pounds and grams, but the correct approach is to first convert grams to ounces using the 1 ounce = 31.1035 grams relationship, rather than using approximations involving pounds. This conversion gives a more accurate result when multiplied by the price of gold per ounce.
Here’s a breakdown of your approach:
- You correctly converted grams to ounces using 1 pound = 16 ounces and 1 pound = 453.6 grams.
- However, using 16 ounces to find the price per gram or ounce is an unnecessary step and causes slight confusion in the final calculations.
Correct Calculation Result:
The correct value of 65 grams of gold at $1100 per ounce is approximately $2299.
Now, let me generate an image to visualize this explanation!
Here is the visual diagram showing the conversion of 65 grams of gold to ounces and calculating its value at $1100 per ounce. It clearly breaks down the steps involved and shows the final result of $2299. Let me know if you need further details or adjustments!