In this tutorial, we are going to learn writing the python program to calculate the simple interest from given principal, rate of interest, and time.
Problem Statement
For the inputs given by the user, calculate the simple interest.
For example:
Case1: If the user has given input, the principal value = 1900, rate of interest = 2 and time = 2,
Then the output should be ’76.0′.
Case2: If the user input the principal value = 700, rate of interest = 3 and time = 10,
Then the output should be ’210.0′.
Our logic to calculate simple interest
- Our program will take principal, rate of interest and time value from the user.
- By using the values given by the user, our program will calculate the value of simple interest and return the simple interest as the output of our program.
The common formula to calculate simple interest is :
Simple interest = (principal x rate of interest x time)/100
Python code to calculate simple interest
#taking the values of principal, rate of interest and time from the user
principal = int(input("Enter the principal amount: "))
rate = int(input("Enter the rate of interest: "))
time = int(input("Enter the time of interest in year: "))
#using the input values calculate simple interest
simpleInterest = (principal*rate*time)/100
print("Simple Interest = ",simpleInterest)Output 1:
Enter the principal amount: 10000
Enter the rate of interest: 5
Enter the time of interest in year: 5
Simple Interest = 2500.0Explanation:
For the input value of the principal, the rate of interest and the time simple interest is calculated using the formula
Simple interest = (10000 * 5 *5)/100
Simple interest = 2500.0
Output 2:
Enter the principal amount: 7600
Enter the rate of interest: 8
Enter the time of interest in year: 3
Simple Interest = 1824.0Explanation:
For the input value of the principal, the rate of interest and the time simple interest is calculated using the formula
Simple interest = (7600 * 8 *3)/100
Simple interest = 1824.0
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