A 14-karat gold ring contains 58.3% gold and weighs 12.41 g.If gold sells for $308.00/ounce,what is the value of the gold in the ring?

Question

Quizplus · Accepted Answer

The value of the gold in the ring can be calculated by first determining the weight of the pure gold in the ring and then calculating its value based on the current price of gold. A 14-karat gold ring contains 58.3% gold. The ring weighs 12.41 g. First, convert the weight of the ring to ounces, since gold is priced per ounce. There are approximately 28.35 grams in an ounce. So, the ring weighs 12.41 g / 28.35 g/oz = 0.4376 ounces. The amount of pure gold in the ring is 58.3% of its total weight, so the weight of the pure gold is 0.4376 ounces * 58.3% = 0.255 ounces. The value of the gold in the ring is then 0.255 ounces * $308.00/ounce = $78.54, which rounds to $78.60, making the correct answer E.

A 14-Karat Gold Ring Contains 58