Suppose the world demand for cobalt is about 16,360,000 pounds per year and the static reserve is 110. What are the known global reserves for cobalt?

Question

Quizplus · Accepted Answer

The known global reserves for cobalt can be calculated by multiplying the static reserve (110) by one million (to convert pounds to tons), and then dividing the result by the world demand (16,360,000): 
(110 * 1,000,000) / 16,360,000 = 6.719 tons 
Since the question asks for the answer in million tons, we divide by one million: 
6.719 / 1,000,000 = 0.000006719 
This is equivalent to 6.719 million tons, which is closest to option B (1800 million tons).

Suppose the World Demand for Cobalt Is About 16,360,000 Pounds