Python Program for Simple Interest

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 :2500.0
We need to find simple interest on 
Rs. 10,000 at the rate of 5% for 5 
units of time.

Python Program for simple interest

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) 

Program for simple interest with Taking input from user

We can calculate the simple interest by taking P,T and R from the user.

Python3

# Python3 program to find simple interest
#  principal amount, time and
# rate of interest taken from user.


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)


# Driver code
P = int(input("Enter the principal amount :"))
T = int(input("Enter the time period :"))
R = int(input("Enter the rate of interest :"))
simple_interest(P,T,R)

Output:

Input:
Enter the principal amount :3000
Enter the time period :7
Enter the rate of interest :1
Output: 
The simple interest is 210.0

Time complexity: O(1)
Auxiliary Space: O(1) 

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