Civil Service Exam Reviewer · Simple Interest and Profit/Loss · hard
On ₱45,000 at 6% for 180 days, how much more is the ordinary interest (360-day year) than the exact interest (365-day year)?
- ₱1,350
- ₱1,331.51
- ₱18.49
- ₱184.93
Answer
C. ₱18.49
Solution
Ordinary = ₱1,350; exact = ₱1,331.51. Difference = ₱18.49.
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