Enter the selling price of the silver ($/lb), the purchase price of the silver ($/lb), and the total weight of silver (lbs) into the calculator to determine the Silver Profit.
Silver Profit Formula
The following formula is used to calculate the Silver Profit.
SP = (S – PP) * WS
- Where SP is the Silver Profit ($)
- S is the selling price of the silver ($/lb)
- PP is the purchase price of the silver ($/lb)
- WS is the total weight of silver (lbs)
How to Calculate Silver Profit?
The following example problems outline how to calculate Silver Profit.
Example Problem #1
- First, determine the selling price of the silver ($/lb). In this example, the selling price of the silver ($/lb) is given as 15 .
- Next, determine the purchase price of the silver ($/lb). For this problem, the purchase price of the silver ($/lb) is given as 13 .
- Next, determine the total weight of silver (lbs). In this case, the total weight of silver (lbs) is found to be 2000.
- Finally, calculate the Silver Profit using the formula above:
SP = (S – PP) * WS
Inserting the values from above yields:
SP = (15 – 13) * 2000 = 4000 ($)
Example Problem #2
The variables needed for this problem are provided below:
selling price of the silver ($/lb) = 16
purchase price of the silver ($/lb) = 10
total weight of silver (lbs) = 1000
Entering these values and solving gives:
SP = (16 – 10) * 1000 = 6000.00 ($)
