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Find the simple interest (in closest integral ₹) on ₹4000 at 5.25% per annum rate of interest for the period from 14 February 2024 to 15 April 2024
33
36
34
35
35
Calculate days precisely: Feb (2024 is leap, 29-14=15 days), March (31 days), April (15 days). Total days = 15+31+15 = 61 days. SI=4000×1005.25×36661=40×5.25×61=35.
Principal P = ₹4000, Rate R = 5.25% p.a., Time period from 14 February 2024 to 15 April 2024.
SI=100P×R×T
Calculate days precisely: Feb (2024 is leap, 29-14=15 days), March (31 days), April (15 days). Total days = 15+31+15 = 61 days. SI=4000×1005.25×36661=40×5.25×61=35.
2024 is a leap year, so February has 29 days. Many students mistakenly use 28, resulting in an incorrect day count of 60 instead of 61.
Calculate total number of days
Since 2024 is a leap year, February has 29 days. Period: Feb (29 - 14 = 15) + March (31) + April (15) = 61 days.
T=61 days=36661 years
Apply Simple Interest formula
Plug the principal, rate, and time into the SI formula: SI=(P×R×T)/100.
SI=100×3664000×5.25×61
Final Calculation
Simplify the fraction: 4000/100=40. Thus, SI=40×5.25×(61/366). Note that 61/366=1/6.
SI=40×5.25×61=210/6=35
D is correct because the calculated simple interest for 61 days at 5.25% per annum on ₹4000 is exactly ₹35.
Always verify if the given year is a leap year (divisible by 4) when dealing with interest calculations spanning February, as it affects both day counts and total annual days (365 vs 366).
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