Civil Service Exam Reviewer · Simple Interest and Profit/Loss · hard
On ₱74,000 at 9% for 120 days, how much more is the ordinary interest (360-day year) than the exact interest (365-day year)?
- ₱2,220
- ₱2,189.59
- ₱30.41
- ₱304.11
Answer
C. ₱30.41
Solution
Ordinary = ₱2,220; exact = ₱2,189.59. Difference = ₱30.41.
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