Write a program to calculate Simple Interest

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

Simple Interest is 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 for determining 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 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 users 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 the 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 of 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

Prime factors of a number in c
Armstrong number program in c
Write a program to check leap year in c
C program to find area of rectangle
C program to convert celsius to fahrenheit
Fibonacci series program in C using recursion
Write a program to find area of circle in C
C program to find greatest of three numbers
C program for addition of two numbers
C program to calculate compound interest
C program to find the ASCII value of a character
C program to convert Decimal to Octal
C program to convert decimal to binary
C program to check whether a number is even or odd
C program to reverse a number
C program to check palindrome number
C program to check whether an alphabet is a vowel or consonant
Program to find square root of a number in C
C program to check whether a number is positive or negative