# Java Program to Calculate 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 is given by:

`Simple Interest = (P x T x R)/100 `

Where,

• P is the principal amount
• T is the time and
• R is the rate

Examples: –

```Example 1:

Input :  P = 10000
R = 5
T = 5
Output : 2500

Explanation - We need to find simple interest on
Rs. 10, 000 at the rate of 5% for 5
units of time.

Example 2:

Input :  P = 3000
R = 7
T = 1
Output : 210```

Example 1:

## Java

 `// Java program to compute` `// simple interest for given principal` `// amount, time and rate of interest.` `import` `java.io.*;`   `class` `GFG {` `    ``public` `static` `void` `main(String args[])` `    ``{` `        ``// We can change values here for` `        ``// different inputs` `        ``float` `P = ``1``, R = ``1``, T = ``1``;`   `        ``/* Calculate simple interest */` `        ``float` `SI = (P * T * R) / ``100``;` `        ``System.out.println(``"Simple interest = "` `+ SI);` `    ``}` `}`   `// This code is contributed by Anant Agarwal.`

Output

`Simple interest = 0.01`

Time Complexity: O(1)
Auxiliary Space: O(1)

Example 2:

## Java

 `// Java program to compute` `// simple interest for given principal` `// amount, time and rate of interest.` `import` `java.io.*;`   `class` `GFG {` `    ``public` `static` `void` `main(String args[])` `    ``{` `        ``// We can change values here for` `        ``// different inputs` `        ``float` `P = ``10000``, R = ``5``, T = ``5``;`   `        ``// Calculate simple interest` `        ``float` `SI = (P * T * R) / ``100``;` `        ``System.out.println(``"Simple interest = "` `+ SI);` `    ``}` `}`

Output

`Simple interest = 2500.0`

Time Complexity: O(1)
Auxiliary Space: O(1)

Please refer complete article on the Program to find simple interest for more details!

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