function calculateGoldRate() {
// 1. Get input values
var price24kInput = document.getElementById('marketPrice24k').value;
var weightInput = document.getElementById('goldWeight').value;
var makingChargesInput = document.getElementById('makingCharges').value;
var taxInput = document.getElementById('taxRate').value;
// 2. Clear previous errors and results
document.getElementById('priceError').style.display = 'none';
document.getElementById('weightError').style.display = 'none';
document.getElementById('resultBox').style.display = 'none';
// 3. Parse and Validate inputs
var price24k = parseFloat(price24kInput);
var weight = parseFloat(weightInput);
var makingPercent = parseFloat(makingChargesInput);
var taxPercent = parseFloat(taxInput);
var hasError = false;
if (isNaN(price24k) || price24k <= 0) {
document.getElementById('priceError').style.display = 'block';
hasError = true;
}
if (isNaN(weight) || weight <= 0) {
document.getElementById('weightError').style.display = 'block';
hasError = true;
}
if (hasError) {
return;
}
// Handle empty optional fields (set to 0 if empty)
if (isNaN(makingPercent)) {
makingPercent = 0;
}
if (isNaN(taxPercent)) {
taxPercent = 0;
}
// 4. Perform Calculation Logic
// Step A: Calculate rate per gram for 24K (Input is usually per 10g in many markets)
var ratePerGram24k = price24k / 10;
// Step B: Calculate rate per gram for 22K
// 22 Karat is 22 parts gold and 2 parts alloy, or 91.66% pure.
// Formula: (24K Price / 24) * 22
var ratePerGram22k = (ratePerGram24k / 24) * 22;
// Step C: Calculate Base Gold Value
var baseGoldValue = ratePerGram22k * weight;
// Step D: Calculate Making Charges
// Making charges are calculated on the Gold Value (sometimes on current market rate, here using Gold Value)
var makingChargesAmount = baseGoldValue * (makingPercent / 100);
// Step E: Subtotal before Tax
var subTotal = baseGoldValue + makingChargesAmount;
// Step F: Calculate Tax
// Tax is usually applied on the total bill (Gold + Making Charges)
var taxAmount = subTotal * (taxPercent / 100);
// Step G: Final Total
var finalTotal = subTotal + taxAmount;
// 5. Update UI
document.getElementById('resRate24k').innerText = ratePerGram24k.toFixed(2);
document.getElementById('resRate22k').innerText = ratePerGram22k.toFixed(2);
document.getElementById('resBaseValue').innerText = baseGoldValue.toFixed(2);
document.getElementById('resMakingCharges').innerText = makingChargesAmount.toFixed(2);
document.getElementById('resTax').innerText = taxAmount.toFixed(2);
document.getElementById('resTotal').innerText = finalTotal.toFixed(2);
document.getElementById('resultBox').style.display = 'block';
}
How to Calculate Gold Rate for 22 Carat Jewellery
Understanding how to calculate the gold rate for 22 carat (22K) jewellery is essential for anyone looking to purchase ornaments without being overcharged. While the market usually flashes the price of 24K gold (pure gold), most jewellery is made from 22K gold because pure gold is too soft to hold intricate shapes or gemstones. This guide explains the mathematics behind the pricing structure.
The Difference Between 24K and 22K
Before calculating, it is important to know the purity difference:
24 Carat (24K): 99.9% Pure Gold. It is used for investment purposes (coins, bars) but is too malleable for jewellery.
22 Carat (22K): 91.6% Pure Gold. It contains 22 parts gold and 2 parts other metals (like copper, zinc, or silver) to provide durability.
The Calculation Formula
To find the price of your jewellery, you cannot simply use the 24K market rate. You must convert the rate to 22K purity, then add making charges and taxes. Here is the step-by-step formula:
Step 1: Calculate the Price of 1 Gram of 22K Gold
First, take the current market price of 24K gold. If the price is listed per 10 grams (common in many Asian markets), divide by 10 to get the 1 gram price.
Formula:(Price of 1g 24K Gold / 24) × 22 = Price of 1g 22K Gold
Alternatively, you can multiply the 24K rate by 0.9166.
Step 2: Calculate the Base Value of the Jewellery
Multiply the 1 gram 22K price by the weight of the jewellery you intend to buy.
Formula:Price of 1g 22K Gold × Weight in Grams = Base Gold Value
Step 3: Add Making Charges
Jewellers charge a fee for the labor involved in designing and manufacturing the piece. This is called "Making Charges" or "Wastage." It is usually expressed as a percentage of the gold value.
Formula:Base Gold Value × Making Charge % = Making Charge Amount
Step 4: Add Taxes (GST/VAT)
Finally, government taxes are applied to the sum of the Gold Value and the Making Charges.
Formula:(Base Gold Value + Making Charge Amount) × Tax % = Tax Amount
Real-World Calculation Example
Let's assume the following scenario for buying a gold chain: