Given :
Gold is selling at $475/ounce.
To Find :
How many milligrams of gold could you buy for 100 dollars.
16 oz= 1 lb
1 lb = 454 gm
Solution :
Price per mg is :
[tex]P=\dfrac{475}{\dfrac{1}{16}\ lb}\\\\\\P=\dfrac{475}{\dfrac{1}{6}\times 454\times 1000\ mg}\\\\\\P=\$0.00627 /mg[/tex]
So, milligrams of gold could you buy for 100 dollars is :
[tex]Q=\dfrac{100}{0.00627}\ mg\\\\Q=15948.96\ mg[/tex]
Hence, this is the required solution.
