To calculate the Carat Cost (\(CC\)):
\[ CC = CW \times PPC \]
Where:
Carat Cost is the total cost of a gemstone based on its weight in carats and the price per carat. This metric is used in the jewelry industry to price diamonds and other gemstones. The formula multiplies the carat weight by the price per carat to give the total cost.
Let's assume the following values:
Using the formula:
\[ CC = 1.5 \times 5000 = 7500 \text{ dollars} \]
The Carat Cost is $7500.
Let's assume the following values:
Using the formula:
\[ CC = 2 \times 6000 = 12000 \text{ dollars} \]
The Carat Cost is $12000.