Question

It has been estimated that 8.0 x 10^4 tons of gold (Au) have been mined. Assume gold costs $1350 per troy ounce. What is the total worth of this quantity of gold? (1 troy ounce =31.103 g)

Answer 1

Answer:

$\ 3.14\times 10^{12}$ is the total worth of this quantity of gold.

Explanation:

Estimated mass of gold =M = $8.0\times 10^4 tons$

1 troy ounce = 31.103 g

1 ton = 907185 g

1 g= $\frac{1}{907185} ton$

$31.103 g= 31.103\times \frac{1}{907185} ton=3.4285\times 10^{-5} ton$

1 troy ounce =$3.4285\times 10^{-5}ton$

$1 ton = \frac{1}{3.4285\times 10^{-5}}\text{troy ounce}$

$=2.9167\times 10^4 \text{troy ounce}$

M = $8.0\times 10^4 tons=8.0\times 10^4\times 2.9167\times 10^4 \text{troy ounce}$

M = $2.333\times 10^{9}$ troy ounces

Cost of 1 troy ounce gold = $1350

Cost of  $2.333\times 10^{9}$ troy ounces of gold =

$\ 1350\times 2.333\times 10^{9} =\ 3.14\times 10^{12}$