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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 4 February 2024 to 5 April 2024
36
34
35
33
35
Calculate days: Feb (29-4=25) + March (31) + April (5) = 61 days. SI=4000×1005.25×36661. Since 61/366=1/6, SI = 4000×0.0525/6≈35.
Principal P = ₹4000, Rate R = 5.25% p.a., Time period from 4 February 2024 to 5 April 2024.
SI=100P×R×T, where T is time in years.
Calculate days: Feb (29-4=25) + March (31) + April (5) = 61 days. SI=4000×1005.25×36661. Since 61/366=1/6, SI = 4000×0.0525/6≈35.
2024 is a leap year; forgetting to count February as 29 days or including the starting date in the interval calculation.
Calculate the total number of days
Since 2024 is a leap year, February has 29 days. We exclude the start date (Feb 4) and include the end date (April 5). Days = (29 - 4) + 31 (March) + 5 (April) = 61 days.
Time=61 days=36661 years=61 year
Apply the Simple Interest formula
Substitute P = 4000, R = 5.25%, and T = 1/6 into the SI formula.
SI=4000×1005.25×61
Perform final calculation
Calculate the numerical value: 40×5.25=210, then divide by 6.
SI=6210=35
C is correct because the simple interest for 61 days on ₹4000 at 5.25% p.a. evaluates to exactly ₹35.
Always check for leap years (divisible by 4) in date-based interest problems, as 366 days changes the fraction of the year compared to the standard 365.
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