Blinking Cursor on Black Screen, after Dell Logo - Hard Drive Self Test Unsuccessful.

Hi Friends,

I have an old Dell Inspiron 15R N5110 (purchased in 2012, which is out of warranty). It was working fine until few weeks earlier. Yesterday, when I switched it on, it shows the Dell logo; post which it shows a blinking cursor on a black screen. Though I waited for few mins thinking it would load Windows, it did not.

I had Win7 and recently upgraded to Win10. Also, I do not have a recovery disc; neither was provided with one from Dell during purchase.

Only options available for me are F2 and F12. I tried the following.
1. Removed all connected extenal components to the laptop. Removed and Reinserted the battery. Tried ON & OFF couple of times. No use.
2. Pressed F2 and changed the BIOS settings to boot from HD. No use.
3. Pressed F12 and ran the Diagnostics. Basic Test was successful. Thorough Test revealed the following

Error Code 2000-0142
Validation 7501
Msg: Hard Drive 0 - S/N 12*******, self test unsuccessful. Status = 7
The given error code and message can be used by Dell Technical Support to help diagnose the problem.

Checked in Dell website with above info suggests me to replace the HD.

Is there any other suggestions from the forum for me to try?

Thanks in advance for all your suggestions.