Platinum is used as a catalyst in many chemical processes and in automobile cata
ID: 1023003 • Letter: P
Question
Platinum is used as a catalyst in many chemical processes and in automobile catalytic converters. If a troy ounce of platinum costs $100 and a catalytic converter has 5 grams of platinum, what is the value in dollars of the platinum in a catalytic converter? To solve this problem one needs to determine the relation between a troy ounce and a gram, and this conversion factor is not listed in Table 2-4. While the troy ounce originated in sixteenth century Britain, it has largely been replaced by the measures of mass indicated in Table 2-4. However, it is still retained today for the measure of precious stones and metals such as platinum, gold, etc.
Explanation / Answer
1 troy ounce = 31.1035 g
Given: 31.1035g of platinum costs $100
Therefore, 5 g of platinum present in the catalytic converter would cost: 5 * 100/31.1035 = $ 16.08