The ore of a gold mine in the Mountain Province contains, on the average, 0.5 gram of gold per ton. One method of processing costs Php 1,650 per ton and recovers 93% of the gold, while another method costs only Php 1,500 per ton and recovers 81% of the gold. If gold can be sold at Php 8,500 per gram, which method is better and by how much? Hint: Consider the income and cost per ton of ore. Solve for the net receipt of each method. Note: Write only A or B for the better method (first blank). Input numerical answers only on the savings (second blank), do not type the units, space or comma.

The ore of a gold mine in the Mountain Province contains, on the average, 0.5 gram of gold per ton. One method of processing costs Php 1,650 per ton and recovers 93% of the gold, while another method costs only Php 1,500 per ton and recovers 81% of the gold. If gold can be sold at Php 8,500 per gram, which method is better and by how much? Hint: Consider the income and cost per ton of ore. Solve for the net receipt of each method. Note: Write only A or B for the better method (first blank). Input numerical answers only on the savings (second blank), do not type the units, space or comma.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The ore of a gold mine in the Mountain Province contains, on the average, 0.5 gram of
gold per ton. One method of processing costs Php 1,650 per ton and recovers 93% of
the gold, while another method costs only Php 1,500 per ton and recovers 81% of the
gold. If gold can be sold at Php 8,500 per gram, which method is better and by how
much? Hint: Consider the income and cost per ton of ore. Solve for the net receipt of
each method.
Note: Write only A or B for the better method (first blank). Input numerical answers only
on the savings (second blank), do not type the units, space or comma.
Answers:
Better method
Savings: Php

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