By looking at the ratio of carbon-12 to carbon-14 in the sample and comparing it to the ratio in a living organism, it is possible to determine the age of a formerly living thing fairly precisely. So, if you had a fossil that had 10 percent carbon-14 compared to a living sample, then that fossil would be: t = [ ln (0.10) / (-0.693) ] x 5,700 years t = [ (-2.303) / (-0.693) ] x 5,700 years t = [ 3.323 ] x 5,700 years Because the half-life of carbon-14 is 5,700 years, it is only reliable for dating objects up to about 60,000 years old.However, the principle of carbon-14 dating applies to other isotopes as well.

Anything that dies after the 1940s, when Nuclear bombs, nuclear reactors and open-air nuclear tests started changing things, will be harder to date precisely.
Our understanding of the shape and pattern of the history of life depends on the accuracy of fossils and dating methods.
Understanding the ages of related fossil species helps scientists piece together the evolutionary history of a group of organisms.
For example, based on the primate fossil record, scientists know that living primates evolved from fossil primates and that this evolutionary history took tens of millions of years.
Mountains have been built and eroded, continents and oceans have moved great distances, and the Earth has fluctuated from being extremely cold and almost completely covered with ice to being very warm and ice-free.
These changes typically occur so slowly that they are barely detectable over the span of a human life, yet even at this instant, the Earth's surface is moving and changing.Potassium-40 is another radioactive element naturally found in your body and has a half-life of 1.3 billion years.Other useful radioisotopes for radioactive dating include Uranium -235 (half-life = 704 million years), Uranium -238 (half-life = 4.5 billion years), Thorium-232 (half-life = 14 billion years) and Rubidium-87 (half-life = 49 billion years).However, by itself a fossil has little meaning unless it is placed within some context.The age of the fossil must be determined so it can be compared to other fossil species from the same time period.Libby received the Nobel Prize in Chemistry for his work in 1960.