Calculate Simple Interest

Simple Interest Formula
Simple Interest = (P × R × T)/100
P is Principal amount.
R is rate per annum.
T is time in years.
For example: Let’s say a man deposit 2000 INR in bank account at a interest rate of 6% per annum for 3 years, calculate the simple interest at the end of 3 years.
Simple interest = 2000*6*3/100 = 360 INR

Java Program to calculate simple interest

import java.util.Scanner;

public class JavaExample

{

    public static void main(String args[]) 

    {

        float p, r, t, sinterest;

        Scanner scan = new Scanner(System.in);

        System.out.print("Enter the Principal : ");

        p = scan.nextFloat();

        System.out.print("Enter the Rate of interest : ");

        r = scan.nextFloat();

        System.out.print("Enter the Time period : ");

        t = scan.nextFloat();

        scan.close();

        sinterest = (p * r * t) / 100;

        System.out.print("Simple Interest is: " +sinterest);

    }

}

Output

Enter the Principal : 2000

Enter the Rate of interest : 6

Enter the Time period : 3

Simple Interest is: 360.0

 

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