The morgan silver dollar has a mass of 26.73 g. By law, it was required to contain 90% silver, with the remainder being copper (a) when the coin was minted in the late 1800s, silver was worth $1.18 per try ounce(31.1 g). At this price, what is the value of the silver in the silver dollar? (b) today, silver sell for about $13.25 per troy ounce. How many Morgan silver dollars are required to obtain $25.00 worth of pure silver?

Question

anonymous · Answer

What is a TRY ounce?? (just curious - i don't think its too important..)

anonymous · Answer

okay i think i've got it - hang on still working on it

anonymous · Answer

That's troy ounce. XD i'm sorry

anonymous · Answer

Okay, i can always wait.

anonymous · Answer

Have you got an answer so I can compare with you? If not - don't worry, I'll take you through my process:

anonymous · Answer

Okay so we know that: 

TOTAL WEIGHT: 26.73g

WEIGHT OF SILVER: (ONLY 90%) SO:    O.9(26.730) = 24.057g right?

anonymous · Answer

I didn't get the answer.

anonymous · Answer

Does this make sense @louiseopura ?

anonymous · Answer

Okay - never mind.

So weight of silver in dollar = 24.057g

Now we need to get this weight interms of the troy ounces.....

to do this simply divide 24.057g by 31.1 = 0.7735.....grams

Are you with me?

anonymous · Answer

Now the question asks what is the price of the silver?

So, simply multiply 0.7735.....grams  by $1.18

anonymous · Answer

For a) I got $0.91 (2 decimal places) which is about 90 cents

anonymous · Answer

I'm sorry for the late reply @BarbaraKara our net is so slow.

anonymous · Answer

I'm still with you

anonymous · Answer

b) How many Morgan silver dollars are required to obtain $25.00 worth of pure silver?

just divide 25.00 by 0.91277........

=27.389....
Therefore about 27.4 single dollars are needed to get 25 dollars worth of pure silver.

Can you see how this works?

anonymous · Answer

yeah. Uhmm, I'll be back later. Let's continue this later, can we? :) please? I need to eat

anonymous · Answer

haha - okay - i might not be on though, just read back through, the answers are correct - im pretty sure ! :) have a nice dinner/lunch

anonymous · Answer

I'm done eating @BarbaraKara let's continue. :)

anonymous · Answer

Do you understand part a) ?

anonymous · Answer

Yeah, i undertand. I'm calculating it.

anonymous · Answer

Yay!

anonymous · Answer

Haha. Thank you so much barbarakara ^_^ you really helped me alot.

anonymous · Answer

You're welcome :)