Management of working capital Receivables- calculation of effective rate p.a

Dear Sir,

Refer to effective rate of interest or cost, as in lecture you have calculated as below:

1+R= (1.02)^12 (2% for 30 days and accordingly n =12 (360 days /30)
1+R = 1.2682
R = 0.2682 or 26.82 % p.a

Sir, can we calculate same as simple way as below

r= 2% for 30 days , Annualized rate (R) = 2/30 days *360 days= 24% p.a

Please advise.

Thanks
Kamal