Find the simple interest (to the nearest ) on 3000 ' for the period from 10 February 2024 to 11 April 2024 at 7% per annum.

Given:

Principal (P) = ₹3000

Rate of Interest (R) = 7% per annum

Time Period = 10 February 2024 to 11 April 2024 

Formula used:

Simple Interest (SI) = \( \dfrac{P \times R \times T}{100} \)

Where,

T = Time in years

Calculations:

Duration from 10 February 2024 to 11 April 2024 

February: 20 days (as 2024 is a leap year)

March: 31 days

April: 11 days

Total Days = 20 + 31 + 11 = 62 days

Time (T) = \( \dfrac{62}{366} \) years

Simple Interest (SI) = \( \dfrac{3000 \times 7 \times \dfrac{62}{366}}{100} \)

⇒ SI = \( \dfrac{3000 \times 7\times 62}{366 \times 100} \)

SI = \( \dfrac{1302000}{36600} \)

⇒ SI = 35.57

∴ The correct answer is option (4).

 Important Points In this question, the answer is 35.57. The closest integer is 35, so both 35 and 36 should be acceptable. However, based on the previous year's correct answer marked is 35. paper, the correct answer marked is 35.

"Since it is a leap year, 1 day will be added to 365, making the total days 366."