# Python Program for simple interest

• Difficulty Level : Easy
• Last Updated : 16 Jun, 2022

Simple interest formula is given by: Simple Interest = (P x T x R)/100 Where, P is the principle amount T is the time and R is the rate

Examples:

```EXAMPLE1:
Input : P = 10000
R = 5
T = 5
Output :2500.0
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 :210.0```

## Python3

 `# Python3 program to find simple interest``# for given principal amount, time and``# rate of interest.`  `def` `simple_interest(p,t,r):``    ``print``(``'The principal is'``, p)``    ``print``(``'The time period is'``, t)``    ``print``(``'The rate of interest is'``,r)``    ` `    ``si ``=` `(p ``*` `t ``*` `r)``/``100``    ` `    ``print``(``'The Simple Interest is'``, si)``    ``return` `si``    ` `# Driver code``simple_interest(``8``, ``6``, ``8``)`

Output:

```The principal is 8
The time period is 6
The rate of interest is 8
The Simple Interest is 3.84```

Time complexity: O(1)

Auxiliary Space: O(1)

#Please refer complete article on Program to find simple interest for more details!

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