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 :
EXAMPLE1: 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. EXAMPLE2: 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.
// CPP program to find simple interest for // given principal amount, time and rate of // interest. #include<iostream> using namespace std;
int main()
{ // We can change values here for
// different inputs
float P = 1, R = 1, T = 1;
/* Calculate simple interest */
float SI = (P * T * R) / 100;
/* Print the resultant value of SI */
cout << "Simple Interest = " << SI;
return 0;
} |
#include <stdio.h> int main()
{ // We can change values here for
// different inputs
float P = 1, R = 1, T = 1;
/* Calculate simple interest */
float SI = (P * T * R) / 100;
printf ( "Simple Interest = %f\n" , SI);
return 0;
} // This code is contributed by agarwalsajal19. |
// A Simple 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. |
# Python3 program to find simple interest # for given principal amount, time and # rate of interest. # We can change values here for # different inputs P = 1 R = 1 T = 1 # Calculates simple interest SI = (P * R * T) / 100
# Print the resultant value of SI print ( "simple interest is" , SI)
# This code is contributed by Azkia Anam. |
// A Simple C# program to compute // simple interest for given principal // amount, time and rate of interest. using System;
class GFG {
// Driver Code
public static void Main()
{
// We can change values here for
// different inputs
float P = 1, R = 1, T = 1;
// Calculate simple interest
float SI = (P * T * R) / 100;
Console.Write( "Simple interest = " + SI);
}
} // This code is contributed by Nitin Mittal. |
<?php // PHP program to find simple interest // for given principal amount, time // and rate of interest. // We can change values here for // different inputs $P = 1;
$R = 1;
$T = 1;
/* Calculate simple interest */ $SI = ( $P * $T * $R ) / 100;
/* Print the resultant value of SI */ echo "Simple Interest = " . $SI ;
// This code is contributed by Sam007 ?> |
<script> // JavaScript program to find simple interest for // given principal amount, time and rate of // interest. // We can change values here for
// different inputs
let P = 1, R = 1, T = 1;
/* Calculate simple interest */
let SI = (P * T * R) / 100;
/* Print the resultant value of SI */
document.write( "Simple Interest = " + SI);
// This code is contributed by Surbhi Tyagi. </script> |
Output :
Simple Interest : 0.01
Time complexity : O(1)
Auxiliary Space : O(1)