Join 60,000+ competitive exam aspirants
or with email
Your Cart
Subtotal₹0
Total₹0
Examoogle • User • info@examoogle.com • EE-2024-8821
Chapter 1 of 12 • Page 1 of 248🔒 Protected PDF • Watermarked
Join 60,000+ competitive exam aspirants
Find the simple interest (in closest integral ₹) on ₹4000 at 5.25% per annum rate of interest for the period from 5 February 2024 to 6 April 2024
33
34
36
35
35
Calculate the number of days: Feb (29-5=24, since 2024 is a leap year), March (31), April (6). Total = 24+31+6 = 61 days. SI=4000×0.0525×(61/366)=210×(1/6)=35.
Principal P = ₹4000, Rate R = 5.25% p.a., Time starts from 5 February 2024 to 6 April 2024.
SI=100P×R×T
Calculate the number of days: Feb (29-5=24, since 2024 is a leap year), March (31), April (6). Total = 24+31+6 = 61 days. SI=4000×0.0525×(61/366)=210×(1/6)=35.
2024 is a leap year, so February has 29 days. Using 28 instead of 29 for February or ignoring the leap year status leads to calculation errors.
Calculate number of days
Since 2024 is a leap year, February has 29 days. The duration from 5 February to 6 April is (29-5) + 31 + 6 = 61 days.
T=36661 years
Apply SI Formula
Plug the values into the simple interest formula: P=4000, R=5.25, T=61/366.
SI=100×3664000×5.25×61
Final Calculation
Simplify the fraction: 40×5.25×(61/366)=210×(1/6)=35.
SI=35
D is correct because the calculated simple interest for 61 days on ₹4000 at 5.25% per annum is exactly ₹35.
Always verify if the year is a leap year in interest problems involving February; this simple check is a frequent source of marks in competitive exams.
Get instant step-by-step AI explanations, full shift Previous Year Papers (SSC GD, RRB, SSC JE), and regional rank analysis on the official Examoogle App.
Free Download • 100K+ Aspirants