Moment of inertia is pi/4*r^4, not r^2
Since pi/4 cancel out and you only want %diff,
Difference is (7mm^4)/(60mm^4) = 0.00018526234 = 0.0185%
Total moment of inertia would be (60mm^4-7mm^4) = 12,957,599mm^4
We assume you are taking moment of inertia about its centroid (center of disk).

Just have to keep in mind that moment of inertia is always in units^4.
This post was edited by Dontrunaway on Oct 31 2013 09:31pm