At the time this problem was written, the price of gold was $427 per ounce, while that of platinum was $866 an ounce. The "ounce" in this case is the troy ounce, which is equal to 31.1035 g. The density of gold is 19.3 g/cm^3 and that of platinum is 21.4 g/cm^3. a)If you find a spherical gold nugget worth 1.00 million dollars, what would be its diameter?

Question

At the time this problem was written, the price of gold was $427 per ounce, while that of platinum was $866 an ounce. The "ounce" in this case is the troy ounce, which is equal to 31.1035 g. The density of gold is 19.3 g/cm^3 and that of platinum is 21.4 g/cm^3.   a)If you find a spherical gold nugget worth 1.00 million dollars, what would be its diameter? 
b)How much would a platinum nugget of this size be worth?

DrBob222 · Answer

$1,000,000 x(1 oz/$427) = ?? oz.
??oz x (31.1035 g/1 oz) = xx grams.
volume = xx grams/density = zz cm³.
Volume of a sphere = (4/3)*pi*r³. Solve for r and multiply by 2 since 2r = diameter.
b) is done the same way.