SOLUTION: Gold is selling for $1917 per ounce. How many milligrams of gold can you purchase for one cent? (16 ounces = 1 lb, and 1 lb = 454 g)

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Question 1197592: Gold is selling for $1917 per ounce. How many milligrams of gold can you purchase for one cent?
(16 ounces = 1 lb, and 1 lb = 454 g)


Answer by MathLover1(20849) About Me  (Show Source):
You can put this solution on YOUR website!

Data provided in the question:
Cost of gold = $1917%2Founce
also,
16oz+=+1lb+and 1lb+=+454gr
thus,
1oz+=+%281%2F16%29lb
also
%281%2F16%29lb=%281%2F16%29454g=+28.35g

now,
1gr+=+1000mg
therefore,
28.35gr+=+28350mg
and,
$1+=+100cents
therefore,
$1917+=+191700cents
thus, cost of 28350mg gold is 191700cents

then
1+cent buys 28350mg%2F191700+=+0.1479mg of gold