Sunday, June 9, 2019

The value of a box of platinum

This problem gives you the dimensions of a box of platinum, the density of platinum, and the value per ounce of platinum.   It asks for the Value of the box.

Question:  A person has a box of platinum.   The base of the box is 1 meter long and ½ meter wide.   The height of the box is 2 meters.  The density of platinum is 21.3 g/cm3.   The price of platinum is $1,500 per ounce.  How much is the box worth?

Answer:   The volume of the box is (100 x 200 x 50) cm3 or 1,000,000 cm3.   Each cubic centimeter weighs 21.3 grams so the entire box weighs 21,300,000 grams (21.3 x 1,000,000).   Since there are 28.3494 grams per ounce the weight of the box in ounces is 21,300,000/28.3494 or 751,388.6 ounces.   At $1,500 per ounce this box is worth $1.127 billion  ($1,500 x 751,388.6).

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