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

Examples:

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.

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. 

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).