C Program To Find Simple Interest
What is ‘Simple Interest’?
Simple interest is a quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.
Simple Interest formula:
Simple interest formula is given by:
Simple Interest = (P x T x R)/100
P is the principal amount
T is the time and
R is the rate
EXAMPLE1: Input: P = 10000 R = 5 T = 5 Output: 2500 We need to find simple interest on Rs. 10,000 at the rate of 5% for 5 units of time. EXAMPLE2: Input: P = 3000 R = 7 T = 1 Output: 210
The formula to calculate the simple interest is: simple_interest = (P * T * R) / 100 where P is the principal amount, T is time & R is the rate of interest.
Simple Interest = 0.010000
Please refer complete article on Program to find simple interest for more details!
To calculate simple interest input taken from user.
Input:3000 7 1
Enter p, r, and values:
Simple Interest = 210
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