Calculating The Accurate Gold Jewellery Price
Have you ever found yourself being curious to find out the exact making charge or the accurate value of the gold jewellery you just purchased from the Jeweller of your choice?
More often than not, we find ourselves scratching our heads, unable to confirm if the making charge percentage of what the Jeweller states is actually true or not. To address this hurdle, we build the Jewellery Price Calculator.
With this free online tool, you are empowered with the ability to check either the total price or making charge effortlessly and flawlessly.
How to use Jewellery Price Calculator
- Go to Jewellery Price Calculator in GoldZouq
- Choose either the Total Price Calculator or the Making Charge Calculator. (You can either confirm the total price with the given making charge percentage or confirm the making charge percentage with the given Total Jewellery Price.)
- Fill in the Day’s Gold Rate, Jewellery Weight, Stone Price and weight (If any) and either the making charge in the total price calculator or the total price in the making charge calculator. And finally, hit submit.
So there you have it, you will get either percentage of the Making charge applied or confirm the total price of the jewellery as hassle-free as possible.
Click the button below to use Jewellery Price Calculator
Formula for finding total price of gold jewellery ?
Prerequisites
1 gram Gold rate, Gross weight of the ornament, Stone weight of the ornament, Stone rate of the ornament, Making Charge & GST.
Formula
Gold jewellery/ornament with stone
((Gross Weight – Stone Weight) * 1 gram Gold rate) + Making Charge % of ((Gross Weight – Stone Weight) * 1 gram Gold rate) + 3% GST of total price = Total Price
Let’s see an example: Gold Ring
1 gram Gold rate: 5260/- (04/10/2023)
Gross weight of the ornament: 3.310
Stone weight of the ornament: 0.720
Stone rate of the ornament: 250
Making Charge: 10%
Step 1
(Gross Weight – Stone Weight) * 1 gram Gold rate = A
3.310 – 0.720 = 2.590
2.590 * 5,260 = 13,623
A = 13,623
Step 2
A + Making Charge% of A = B
13,623 + 10 % of 13,623 = 14,985
B = 14,985
Step 3
B + Stone Rate = C
14,985 + 250 = 15,235
C = 15,235
Step 4
C + 3%(GST) of B = Total price
15,235 + 3% of 15,235 = 15,692
Total Price = 15,692/-
Formula
Gold jewellery/ornament without stone
(Gross Weight * 1 gram Gold rate) + Making Charge % of (Gross Weight * 1 gram Gold rate) + 3% GST of total price = Total Price
Let’s see an example: Gold Ring without stone
1 gram Gold rate: 5260/- (04/10/2023)
Gross weight of the ornament: 2.80
Making Charge: 8%
Step 1
Gross Weight * 1 gram Gold rate = A
2.80 * 5260 = 14,728
14,728 = A
Step 2
A + 10% of A = B
14,728 + 1178.24 = 15,906.24
15,906.24 = B
Step 3
B + 3%GST = Total price
15,906.24 + 477.1872 = 16,383.42
16,383.42 /- = Total Price
For Easier Solution Visit Our Calculator Page
Formula for finding making charges of gold jewellery ?
Now let’s find making charges using the prerequisites given below.
Prerequisites
1 gram Gold rate, Gross weight of the ornament, Stone weight of the ornament, Stone rate of the ornament, Total price including GST.
Formula
Gold jewellery/ornament with stone
( (Total Price – GST%) – Stone Rate ) – ((Gross Weight – Stone Weight) * 1 Gram Gold Rate ) = Making Charge
Let’s see an example : Gold Ring with stone
1 gram Gold rate: 5260/- (04/10/2023)
Gross weight of the ornament: 3.310
Stone weight of the ornament: 0.720
Stone rate of the ornament: 250
Total Price(including GST): 15,692
Step 1
Subtract GST from total price
Total Price * (100/103)
15,692 * (100/103) = 15,235
15,235 – Stone Rate = A
15,235 – 250 = 14,985
14,985 = A
Step 2
Gross Weight – Stone Weight
3.310 – 0.720 = 2.590
2.590 * 1 gram gold rate = B
2.590 * 5260 = 13,623
13,623 = B
Step 3
A – B = Making Charge
14,985 – 13,623 = 1362
1362 = Making Charge
Final Step
(Making Charge/B) *100 = Making Charge%
(1362/13623) * 100 = 10%
Making Charge = 10%
Formula
Gold jewellery/ornament without stone
( Total Price – GST% ) – ( Gross Weight * 1 Gram Gold Rate ) = Making Charge
Let’s see an example : Gold Ring without stone
1 gram Gold rate: 5260/- (04/10/2023)
Gross weight of the ornament: 2.80
Total Price(including GST): 16,383.42
Step 1
Subtract GST from total price
Total Price * (100/103)
16,383.42 * (100/103) = 15,906.23
A = 15,906.23
Step 2
Gross Weight * 1 Gram Gold Rate
2.80 * 5260 = 14,728
B = 14,728
Step 3
A – B = Making Charge
15,906.23 – 14,728 = 1178.23
Final Step
(Making Charge/B) *100 = Making Charge%
(1178.23/14,728) * 100 = 8%
Making Charge = 8%
For Easier Solution Visit Our Calculator Page