# JavaScript Program to find simple interest

Last Updated : 21 Feb, 2024

## What is â€˜Simple Interestâ€™?

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

Examples:

`Input : P = 10000        R = 5        T = 5Output :2500We need to find simple interest on Rs. 10,000 at the rate of 5% for 5 units of time.Input : P = 3000        R = 7        T = 1Output :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.

Example: Below is the implementation of the above formula

## Javascript

 `// JavaScript program to find simple interest for` `// given principal amount, time and rate of` `// interest.`   `let P = 1, R = 1, T = 1;`   `/* Calculate simple interest */` `let SI = (P * T * R) / 100;`   `/* Print the resultant value of SI */` `console.log(``"Simple Interest = "` `+ SI);`

Output

```Simple Interest = 0.01
```

Time Complexity: O(1), the execution time of the program is constant and does not depend on the size of the input.

Auxiliary Space: O(1), Since the program uses a constant number of variables that do not depend on the input size, the space complexity is also O(1).