Question

The jeweler buys gold for 1235.55 per ounce and resells it for 1376.44 per ounce how much profit does the jeweler make from buying and reselling ounces of gold

Answer 1

Profit made by jeweler from buying and reselling ounces of gold is 140.89 per ounce

Solution:

Given that

Price at which jeweler buy gold = 1235.55 per ounce

Price at which jeweler resells gold = 1376.44 per ounce

We need to calculate profit.

Buying price of 1 ounce of gold = 1235.55

Reselling price of 1 ounce of gold = 1376.44  

Profit = Reselling price – buying price

So profit on 1 ounce of gold = 1376.44 – 1235.55 = 140.89  

Hence profit made by Buying and Selling gold will be 140.89 per ounce