Importance of Math and calculation in Diamond market
Being good in Math indicates you are confidence and being logical. You always know what to do when and why
Many beginners arrive in market to make career in Diamond trading or Diamond Manufacturing and find that a big barrier to their progress is not the understanding of the economics or business concepts, but the mathematics that goes with it.
Some of the commonly used concepts in day to day market are:
- Calculating Manufacturing loss
Math is used to calculate the manufacturing loss of diamond form rough to polish diamond. Cost of diamond, worker expense etc.
It is used to calculate the diamond value. What price we should sell a diamond to make profit or loss.
Calculating average value or Expense – to manufacture a single stone. The average deal of the lot or if buying some carats of diamonds.
- ROI (Return On Investment)
ROI is calculated to get the net profit on the investment done.
- Running business in profit (To calculate Profit or loss)
In Diamond market – Math is used in simple as well as complex decision making. In market one makes deal in matter of few minute and these deals are worth millions or billions dollar. Sometimes done on hand, in-mind or on calculator.