Civil Service Exam Reviewer · Simple Interest and Profit/Loss · hard
On ₱82,000 at 8% for 60 days, how much more is the ordinary interest (360-day year) than the exact interest (365-day year)?
- ₱1,093.33
- ₱1,078.36
- ₱14.98
- ₱149.77
Answer
C. ₱14.98
Solution
Ordinary = ₱1,093.33; exact = ₱1,078.36. Difference = ₱14.98.
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