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Find the simple interest (in closest integral тВ╣) on тВ╣4000 at 5.25% per annum rate of interest for the period from 12 February 2024 to 13 April 2024
тВ╣36
тВ╣35
тВ╣34
тВ╣33
тВ╣35
Calculate total days directly: Feb (17 days remaining in leap year) + Mar (31 days) + Apr (13 days) = 61 days. Since 61┬аdays=36661тАЛ=61тАЛ┬аyear, Simple Interest = 4000├Ч5.25%├Ч61тАЛ=4000├Ч0.0525├Ч61тАЛ=тВ╣35.
Principal amount P = тВ╣4000, Rate of interest R = 5.25% per annum, Time period = 12 February 2024 to 13 April 2024 (Note: Year 2024 is a leap year).
SI=1000P├ЧR├ЧTтАЛ
Calculate total days directly: Feb (17 days remaining in leap year) + Mar (31 days) + Apr (13 days) = 61 days. Since 61┬аdays=36661тАЛ=61тАЛ┬аyear, Simple Interest = 4000├Ч5.25%├Ч61тАЛ=4000├Ч0.0525├Ч61тАЛ=тВ╣35.
Forgetting that 2024 is a leap year (February has 29 days, total days in year = 366) and taking February as 28 days or year as 365 days.
Calculate the exact number of days
Identify that 2024 is a leap year, so February has 29 days and the year has 366 days.
Total┬аDays=61┬аdays
Convert days into years
Since 2024 is a leap year, total days in the year = 366 days. Time period T=36661тАЛ┬аyears=61тАЛ┬аyear.
T=61тАЛ┬аyear
Apply Simple Interest Formula
Using SI=100P├ЧR├ЧTтАЛ with P=4000, R=5.25%, and T=61тАЛ year: SI=100├Ч64000├Ч5.25├Ч1тАЛ
SI=6004000├Ч5.25├Ч1тАЛ
Perform Calculation
Simplify the fraction: SI=6004000тАЛ├Ч5.25=320тАЛ├Ч5.25=20├Ч1.75=тВ╣35
SI=тВ╣35
B is correct because the exact calculated simple interest for 61 days in a leap year (2024) is тВ╣35.
In competitive exams, always check if the given year is divisible by 4 (leap year) when counting days in February. Standard non-leap year calculations use 365 days, but leap years strictly use 366 days, which often simplifies nicely with prime number factors like 61 (61├Ч6=366).