Civil Service Exam Reviewer · Simple Interest and Profit/Loss · hard
On ₱71,000 at 12% for 180 days, how much more is the ordinary interest (360-day year) than the exact interest (365-day year)?
- ₱4,260
- ₱58.36
- ₱4,201.64
- ₱583.56
Answer
B. ₱58.36
Solution
Ordinary = ₱4,260; exact = ₱4,201.64. Difference = ₱58.36.
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