Metal value and weight quiz.
Learn the simple maths behind contained metal, material mass and transaction costs. Every answer includes a short explanation.
Answers and explanations.
Try the quiz first. Then open any question to check the answer and the reason behind it.
-
What three inputs estimate contained metal value?
Choices: Weight, purity and unit price · Colour, age and country · Length, date and rainfall
Show the answer
Weight, purity and unit price. A basic estimate multiplies compatible weight, purity and unit price after converting the units.
-
A 100-gram item is 90% pure. How much named metal does it contain?
Choices: 90 grams · 100 grams · 10 grams
Show the answer
90 grams. 100 grams multiplied by 0.90 purity gives 90 grams of contained metal.
-
What helps turn a metal shape’s volume into mass?
Choices: Density · Exchange rate · Calendar date
Show the answer
Density. Mass equals volume multiplied by density, as long as the units are compatible.
-
Why can a dealer offer less than the reference metal value?
Choices: Testing, refining, risk and margin may be included · A troy ounce changes size · Purity never matters
Show the answer
Testing, refining, risk and margin may be included. Reference value is not a guaranteed transaction price. Real trades can include processing costs, risk and margin.
-
What should you add when ordering cut metal if scraps or errors are possible?
Choices: A waste allowance · A new currency · A future price guarantee
Show the answer
A waste allowance. A stated waste allowance can help estimate the amount that must be purchased, but it should remain visible as an assumption.
Learn more about this topic.
- Metal value calculator: weight × purity × price in one step.
- Scrap gold payout calculator: what a buyer may actually pay.
- Spot price vs bullion premium: why coins cost more than metal.
Put the lesson into practice in the Commodity Data Lab, apply it to the latest commodity snapshot, or review the source methodology.