Civil Service Exam Reviewer · Simple Interest and Profit/Loss · hard
On ₱90,000 at 9% for 90 days, how much more is the ordinary interest (360-day year) than the exact interest (365-day year)?
- ₱2,025
- ₱27.74
- ₱1,997.26
- ₱277.40
Answer
B. ₱27.74
Solution
Ordinary = ₱2,025; exact = ₱1,997.26. Difference = ₱27.74.
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