Enter the selling price per pound of gold ($/lb), the purchase price of gold ($/lb), and the total weight of gold (lbs) into the calculator to determine the Gold Profit Calculator.
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Gold Profit Formula
The following formula is used to calculate the Gold Profit Calculator.
GP = (SPG – PPG) * W
- Where GP is the Gold Profit Calculator ($)
- SPG is the selling price per pound of gold ($/lb)
- PPG is the purchase price of gold ($/lb)
- W is the total weight of gold (lbs)
How to Calculate Gold Profit?
The following example problems outline how to calculate Gold Profit.
Example Problem #1
- First, determine the selling price per pound of gold ($/lb). In this example, the selling price per pound of gold ($/lb) is given as 50 .
- Next, determine the purchase price of gold ($/lb). For this problem, the purchase price of gold ($/lb) is given as 20 .
- Next, determine the total weight of gold (lbs). In this case, the total weight of gold (lbs) is found to be 150.
- Finally, calculate the Gold Profit using the formula above:
GP = (SPG – PPG) * W
Inserting the values from above yields:
GP = (50 – 20) * 150 = 4500 ($)
Example Problem #2
The variables needed for this problem are provided below:
selling price per pound of gold ($/lb) = 560
purchase price of gold ($/lb) = 140
total weight of gold (lbs) = 14
Entering these values and solving gives:
GP = (560 – 140) * 14 = 5880 ($)
