Write a program to calculate Simple Interest

In this post, we will learn how to calculate simple interest using different programming languages.

Simple interest is a quick and easy method of calculating the interest amount for a particular principal amount of money at some rate of interest. So, Simple Interest is the simplest and the easiest way to determine how much extra you'll have to pay for your loan. For example, when a person takes a loan of Rs. 6000, at a rate of 10 p.a. for three years, the person's interest for three years will be simple interest on the borrowed money.

Simple Interest Formula

The Simple interest (S.I.) formula is given by-

SI = (P x T x R)/100

Where,
P is the principle amount
T is the time and
R is the rate

Algorithm of Simple Interest

Declare Principal, Interest, and Time of loans.
Calculate the Simple Interest by applying the formula.
Print the value of Simple Interest.

C program to calculate Simple Interest

In the given program, we allow the user to enter the principal amount, rate of interest, and number of years. By using these values, the following C program calculates simple interest-

#include <stdio.h>

int main()
{
    float principle, time, rate, SI;

    /* Input principle, rate and time */
    printf("Enter the principal amount : ");
    scanf("%f", &principle);

    printf("Enter the number of years : ");
    scanf("%f", &time);

    printf("Enter the rate of interest : ");
    scanf("%f", &rate);

    /* Calculate simple interest */
    SI = (principle * time * rate) / 100;

    printf("Simple Interest = %f", SI);

    return 0;
}

Output 1

Enter the principal amount : 10000
Enter the number of years : 4
Enter the rate of interest : 5
Simple Interest = 2000.000000

Output 2

Enter the principal amount : 9000
Enter the number of years : 9
Enter the rate of interest : 6
Simple Interest = 4860.000000

Python program to calculate Simple Interest

Here is the simple Python code to calculate simple interest.

p = 1000
t = 5
r = 4

si = (p * t * r)/100
      
print('The Simple Interest is', si)

Output of the above code:

The Simple Interest is 200.0

Java program to calculate Simple Interest

In the given example, we have defined the value of principal, rate, and time. We then use the formula for simple interest to compute the simple interest.

public class SimpleInterest 
{  
    public static void main (String args[])
    {   
        // define principal amount, rate, time and simple interest respectively 
        float principle, rate,  time,  si;  
        principle = 15000;  
        rate = 8; 
        time = 4;  
        si  = (principle*rate*time)/100;   
        System.out.println("Simple Interest is: " +si);  
    }
}

Output of the above code:

Simple Interest is: 4800.0

C++ program to calculate Simple Interest

In the given example, we allow the user to enter the principal amount, rate of interest, and number of years. By using these values, the following C++ program calculates simple interest-

#include<iostream>
using namespace std;

int main()
{
  // declare variables
  float p, t, r, SI;

  // take input principle, rate and time
  cout << "Enter principal amount, time and rate:";
  cin >> p >> t >> r;

  // calculate Simple Interest
  SI = (p*t*r)/100;

  // display result
  cout << "Simple Interest = " << SI << endl;

  return 0;
}

Output of the above code:

Enter principal amount, time and rate:9000 11.5 9.5
Simple Interest = 9832.5

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