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Program to find compound interest
  • Difficulty Level : Basic
  • Last Updated : 25 Apr, 2018

What is ‘Compound interest’?
Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest. It is the result of reinvesting interest, rather than paying it out, so that interest in the next period is then earned on the principal sum plus previously-accumulated interest. Compound interest is standard in finance and economics.

Compound interest may be contrasted with simple interest, where interest is not added to the principal, so there is no compounding.

Compound Interest formula:

Formula to calculate compound interest annually is given by:

Compound Interest = P(1 + R/100)r

Where,
P is principle amount
R is the rate and
T is the time span

Pseudo Code:



Input principle amount. Store it in some variable say principle.
Input time in some variable say time.
Input rate in some variable say rate.
Calculate compound interest using formula, 
Compound Interest = principle * (1 + rate / 100)  time).
Finally, print the resultant value of CI.

Example:

Input : Principle (amount): 1200
        Time: 2
        Rate: 5.4
Output : Compound Interest = 1333.099243

C++




// CPP program to find compound interest for
// given values.
#include <bits/stdc++.h>
using namespace std;
  
int main()
{
    double principle = 10000, rate = 10.25, time = 5;
  
    /* Calculate compound interest */
    double CI = principle * (pow((1 + rate / 100), time));
  
    cout << "Compound interest is " << CI;
  
    return 0;
}

Java




// Java program to find compound interest for
// given values.
import java.io.*;
  
class GFG
{
    public static void main(String args[])
    {
        double principle = 10000, rate = 10.25, time = 5;
  
        /* Calculate compound interest */
        double CI = principle *
                    (Math.pow((1 + rate / 100), time));
          
        System.out.println("Compound Interest is "+ CI);
    }
}
// This code is contributed by Anant Agarwal.

Python3




# Python3 program to find compound
# interest for given values.
  
def compound_interest(principle, rate, time):
  
    # Calculates compound interest 
    CI = principle * (pow((1 + rate / 100), time))
    print("Compound interest is", CI)
  
# Driver Code 
compound_interest(10000, 10.25, 5)
  
# This code is contributed by Abhishek Agrawal.

C#




// C# program to find compound 
// interest for given values
using System;
  
class GFG {
  
    // Driver Code
    public static void Main()
    {
        double principle = 10000, rate = 10.25, time = 5;
  
        // Calculate compound interest 
        double CI = principle * (Math.Pow((1 +
                    rate / 100), time));
          
        Console.Write("Compound Interest is "+ CI);
    }
}
  
// This code is contributed by Nitin Mittal.

PHP




<?php
// PHP program to find 
// compound interest for
// given values.
  
$principle = 10000;
$rate = 10.25; 
$time = 5;
  
// Calculate compound interest
$CI = $principle * (pow((1 + 
      $rate / 100), $time));
  
echo("Compound interest is " . $CI);
  
// This code is contributed by Ajit.
?>


Output:
Compound interest is 16288.9

This article is contributed by Anurag Rawat. If you like GeeksforGeeks and would like to contribute, you can also write an article using contribute.geeksforgeeks.org or mail your article to contribute@geeksforgeeks.org. See your article appearing on the GeeksforGeeks main page and help other Geeks.

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