Program for EMI Calculator

EMI stand for Equated Monthly Installment. This calculator is used to calculate per month EMI of loan amount if loan amount that is principal, rate of interest and time in years is given as input.

Formula:
E = (P.r.(1+r)n) / ((1+r)n – 1)
Here,
P = loan amount i.e principal amount
R = Interest rate per month
T = Loan time period in year

C

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// EMI Calculator program in C
#include <math.h>
#include <stdio.h>
  
// Function to calculate EMI
float emi_calculator(float p, float r, float t)
{
    float emi;
  
    r = r / (12 * 100); // one month interest
    t = t * 12; // one month period
    emi = (p * r * pow(1 + r, t)) / (pow(1 + r, t) - 1);
  
    return (emi);
}
  
// Driver Program
int main()
{
    float principal, rate, time, emi;
    principal = 10000;
    rate = 10;
    time = 2;
    emi = emi_calculator(principal, rate, time);
    printf("\nMonthly EMI is= %f\n", emi);
  
    return 0;
}

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Java

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// EMI Calculator program in java
import java.io.*;
  
public class GFG {
      
    // Function to calculate EMI
    static float emi_calculator(float p, 
                           float r, float t)
    {
        float emi;
      
        r = r / (12 * 100); // one month interest
        t = t * 12; // one month period
        emi = (p * r * (float)Math.pow(1 + r, t)) 
                / (float)(Math.pow(1 + r, t) - 1);
      
        return (emi);
    }
      
    // Driver Program
    static public void main (String[] args)
    {
          
        float principal, rate, time, emi;
        principal = 10000;
        rate = 10;
        time = 2;
          
        emi = emi_calculator(principal, rate, time);
          
        System.out.println("Monthly EMI is = " + emi);
    }
}
  
// This code is contributed by vt_m.

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Python3

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# EMI Calculator program in Python
  
def emi_calculator(p, r, t):
    r = r / (12 * 100) # one month interest
    t = t * 12 # one month period
    emi = (p * r * pow(1 + r, t)) / (pow(1 + r, t) - 1)
    return emi
  
# driver code
principal = 10000;
rate = 10;
time = 2;
emi = emi_calculator(principal, rate, time);
print("Monthly EMI is= ", emi)
  
# This code is contributed by "Abhishek Sharma 44"

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C#

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// EMI Calculator program in C#
using System;
  
public class GFG {
      
    // Function to calculate EMI
    static float emi_calculator(float p, 
                          float r, float t)
    {
        float emi;
      
        r = r / (12 * 100); // one month interest
        t = t * 12; // one month period
        emi = (p * r * (float)Math.Pow(1 + r, t)) 
               / (float)(Math.Pow(1 + r, t) - 1);
      
        return (emi);
    }
  
    // Driver Program
    static public void Main ()
    {
        float principal, rate, time, emi;
        principal = 10000;
        rate = 10;
        time = 2;
          
        emi = emi_calculator(principal, rate, time);
          
        Console.WriteLine("Monthly EMI is = " + emi);
    }
}
  
// This code is contributed by vt_m.

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PHP

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<?php
// EMI Calculator program in PHP
  
// Function to calculate EMI
function emi_calculator($p, $r, $t)
{
    $emi;
  
    // one month interest
    $r = $r / (12 * 100);
      
    // one month period
    $t = $t * 12; 
      
    $emi = ($p * $r * pow(1 + $r, $t)) / 
                  (pow(1 + $r, $t) - 1);
  
    return ($emi);
}
  
    // Driver Code
    $principal = 10000;
    $rate = 10;
    $time = 2;
    $emi = emi_calculator($principal, $rate, $time);
    echo "Monthly EMI is = ", $emi;
  
// This code is contributed by anuj_67.
?>

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Output:



Monthly EMI is= 461.449677

Explanation : When we provide amount of money i.e, principal, rate of interest, time and this program will calculate amount of emi.



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Improved By : vt_m



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