Question

A jeweler buys gold jewelry and resells the gold to a refinery. The jeweler buys gold for $1,235.55 per ounce, and then resells it for $1,376.44 per ounce. How much profit does the jeweler make from buying and reselling 73.5 ounces of gold?

Answer 1

Answer:

$10,355.42

Step-by-step explanation:

Answer 2

Answer:

The correct answer is $.

The question states that the jeweler bought and sold 73.5 ounces of gold, so all we need to do is multiply the price of buying and selling one ounce of gold by 73.5.

Buying - $1235.55 per ounce

Selling - $1376.44 per ounce

73.5 x 1235.55 = 90,812.93

73.5 ounces of gold cost $90,812.93.

73.5 x 1376.44 = 101,168.34

73.5 ounces of gold can be sold for $101,168.34.

Now, all we have to do is subtract the amount spent on the gold from the amount of money made in order to find the profit. This is because the amount of money the jeweler makes depends on how much more money they made by selling the gold than buying it.

$101,168.34 - $90,812.93 = $10,355.41

The jeweler made $10,355.41 by buying and reselling 73.5 ounces of gold.